Congress cuts ethanol incentive, buoying hopes for lower food inflation

WASHINGTON Foodservice industry officials are hopeful that Congress' passage this week of the $307 billion farm bill will help ease the soaring food inflation that has battered restaurant businesses.

Approved by an apparent veto-proof margin, the five-year measure would cut the per-gallon tax credit for blenders of corn-based ethanol from 51 cents to 45 cents, and raise the tax incentive for development of nonfood-based ethanol.

In addition, the bill

Register to view the full article

Register to view this article

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish