Senate Will Soon Consider Tax-Extenders Bill


Spencer, IA: (Apr. 23, 2014) – Iowa Senator Charles Grassley says the chances are the Senate version of a tax-extenders bill will come up for a vote in the next two weeks.

Grassley said Senate Minority Leader Mitch McConnell had sent an email indicating action on the bill will come soon. Work on the bill was completed by the Senate Finance Committee several weeks ago.

Tax provisions for agriculture and bioenergy expired on December 31st. If passed, the bill would reinstate most of those extensions through 2015, according to Grassley.

The bill keeps alive the $1-per-gallon biodiesel tax credit and the 10-cent-per gallon agri-biodiesel producer tax credit. It would also extend the $1.01-per-gallon cellulosic-biofuels-producer tax credit through 2015, especially important for cellulosic ethanol plants, like Project Liberty in Emmetsburg, that are just now coming on line.

One of the most important of the tax breaks, known as Section 179, allows farmers a greater up-front depreciation of farm equipment.

Grassley made his comments during a conference call with ag reporters on Tuesday.

Local Headlines

in Local

People For Pets Can Thief Caught

News Arrest1240 1

A volunteer recently caught someone stealing the cans while on an early morning shift...

in Local

I-90 Accident

Minnesota State Patrol

A Fairmont man is injured in a single vehicle rollover, on Interstate 90.

in Local

Old Home Bakery Thrift Store Closes


Increased efficiency in ordering led to a lack of inventory at the store...

in Local

Shop Local For The Holidays


Small Business Saturday was established in 2010 with an estimated $14.3 billion spent in 2014...

in Local

Flu Mist Shortage


Clay County, like most of the nation, is seeing a shortage of flu mist supply this year...