WASHINGTON (Reuters) - Final language for an extension of the U.S. ethanol tax credit "could emerge today," a trade group said on Thursday, with the 45-cent credit now set to expire on December 31.
There was no word on how long the extension would run or if the credit would be reduced, said a spokesman for the Renewable Fuels Association.
Leaders of the House and Senate tax committees have suggested a one-year extension, with the credit set at 36 cents. Nineteen of the 100 senators are on record in wanting to eliminate the credit.
"Meeting last night, lawmakers were reported to be ironing out the details -- the length of the extension and the value of the credit," said RFA in a statement. "As for timing, the RFA is hearing that final language could emerge today."
(Reporting by Charles Abbott; Editing by Walter Bagley)