ND0613111

Title: Washington Report: Vote This Week Could Repeal Ethanol Tax

Description: Legislation would also cut the 54 cents-per-gallon ethanol tariff.

Page Content:

Week Ahead
On Tuesday this week, a vote on the Senate floor regarding legislation drafted by Senator Tom Coburn (R-OK) could repeal the ethanol tax credit, VEETC, on July 1, 2011. This 45 cents-per-gallon credit is due to expire on December 31, 2011. The legislation would also cut the 54 cents-per-gallon ethanol tariff. Coburn feels it should be done immediately in order to cut the budget; he refers to it as ?spending through tax code.?

Among other supporters, Tea Party favorite Senator Jim DeMint (R-SC) announced Friday his support of repealing the ethanol tax credit and will be offering his own amendment to repeal the Renewable Fuels Standard (RFS), which requires blenders to use ethanol.

Week in Review
The U.S. Senate heard you loud and clear. Thank you for taking time to engage in the grassroots efforts that pushed us across the finish line in debit swipe fee reform. We could not have done it without you. Legislation introduced by Senators John Tester (D-MT) and Bob Corker (R-TN), which would have delayed the debit card interchange reform for 15 months, failed to garner the 60 votes necessary to delay the implementation of the Fed?s rule. The final tally last Wednesday was 54-45.

To quote Huffington Post, "Big banks have not lost many fights in Washington in the aftermath of the Wall Street bailout, but Wednesday's vote underscored at least one limit on their power. Wall Street can beat almost anyone in a legislative brawl, but it cannot defeat the entire American retail industry."

In the many hours of debate before the vote, it was a welcome sign to hear senators not only talk about the convenience retailing industry, but to mention specific members of NACS who made a difference in the senators? decision-making process.

We encourage all retailers to thank their senators who opposed the Tester-Corker amendment. This week, look for a Daily article where we let you know how you can share your thanks and appreciation.����

Other Stories

• Debit Swipe Fees Vote Went Down to the Wire
  Some senators were undecided up until last minute and retailer engagement was critical to the victory.
  
• Sen. Durbin Hails Convenience Retailers
  Illinois senator cites how important convenience retailers are to communities across the country and why swipe fee reform is so important.
  
• FDA to Hold Retailer Tobacco Compliance Webinar
  Upcoming June 28 webinar topic will discuss smokeless tobacco product packaging and advertising requirements.
  
• Debit Card Reform Clears Final Hurdle in Senate
  NACS members are encouraged to thank their senators who voted in support of convenience retailers and merchants across the country and opposed the Tester-Corker amendment.
  
• New Report Finds Health Plans Will Be Cut in 2014
  When most of the health-care overhaul bill becomes law in 2014, 30 percent of companies will probably slash health insurance for employees.
  
• Tell Congress Tester Amendment is Not a Compromise
  The amendment, scheduled for a vote today in the Senate, unravels our efforts to implement much-needed debit card swipe fee reforms.
  
• Debate Begins on Debit Reform ?Kill? Bill
  Legislation to eradicate necessary debit card swipe fee reforms is slated for debate as early as today.
  
• Washington Report: You Asked for It, Now Fight for It
  Debit/credit card fee reform was your top issue a decade ago ? now fight to make it happen.

Content Subject: Government Relations

Formatted Article Date: June 13, 2011

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