Tax Reform

Talks have been going on in an effort to update the nations tax code and a member of the Senate Finance Committee, Iowa Republican Chuck Grassley said he thinks the upper chamber is ready to address the issue and says staff deliberations on tax reform are well underway. "Staff of Ways and Means, staff of Finance and working with the Treasury Department and several meetings of members of the Finance Committee that have been what we call rump sessions which means sitting around and listening to each other and to get the thought process going so that when we do sit down this fall, we can accomplish a great deal. That is both from the standpoint of the necessity of tax cuts as well as the failure to do something on healthcare, and hopefully can still do something on healthcare, but because of that failure to get something done that not only will be a victory for this Congress that hasn't had very many big victories as well as enhancing the opportunity for greater economic growth. If we are going to continue to develop biodiesel, it's going to have to have the tax credit.