The U.S. House of Representatives passed H.R. 4213, the American Jobs and Closing Tax Loophole Act, on May 28, 2010. The legislation provides a one year retroactive extension of the biodiesel tax incentive. It also passed a $1.5 billion ag disaster package which passed in the Senate in March.
The disaster package would provide an estimated $1.1 billion in supplemental payments to producers who suffered crop losses in counties declared “primary” disaster areas by the U.S. Department of Agriculture (USDA). Also included is $300 million to assist specialty crop producers, $75 million in emergency loans to poultry producers, $50 million in assistance for livestock producers, $25 million in aquaculture assistance and $42 million to aid first handlers of cottonseed.
H.R. 4213 also provides funds for the Pigford lawsuit which pays black farmers for discrimination from the USDA.
The Senate is expected to consider the House-passed legislation following the Memorial Day recess.