Exclusive: U.S. Senator Cruz wants to cap renewable fuel credits at 10 cents - document

Reuters News
Posted: Dec 15, 2017 11:58 AM

NEW YORK (Reuters) -

** Republican U.S. Senator Ted Cruz has proposed putting a cap on renewable fuel credits at 10 cents each, according to document provided to the White House and corn-state lawmakers viewed by Reuters on Friday.

** U.S. Environmental Protection Agency should sell "fixed price waiver credits" at to 10 cents each that would satisfy all categories of fuels under the Renewable Fuel Standard, Cruz proposed.

** A working group of administration officials, lawmakers and stakeholders should be formed to consider broader reforms, Cruz proposed.

** Cruz was asked to offer proposals to corn-state lawmakers and the White House that would cut the costs of the biofuel credits while preserving the integrity of the renewable fuel program.

** Corn-state lawmakers have previously opposed caps on credits prices.

(Reporting By Jarrett Renshaw; Editing by Meredith Mazzilli)