IHS Chemical Week

EnviroTech :: Regulatory

Congress Passes ‘Veto Proof’ Farm Bill

1:57 PM MDT | May 20, 2008 | Kara Sissell

U.S. lawmakers passed a comprehensive farm bill at CW presstime that scales back tax credits for corn-based ethanol and offers a tax incentive of approximately $1/gal for cellulosic ethanol. The Food, Conservation, and Energy Act of 2008 also establishes $340 million in loan guarantees for advanced biofuel plants including cellulosic ethanol units (table). FARM ACT PROVISIONS* •Provides $1 billion to fund programs that will help the renewable energy industry invest in new technologies that use a variety of sources beyond feed grains. •Reduces corn...

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