Obama's New Health Care Proposal Seeks to Close 'Black Liquor" Tax Loophole (IP, TIN, VRS)
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The President's new health care proposal includes a plan to close the tax credit on 'black liquor.'
In the past, paper makers like International Paper Co. (NYSE: IP), Temple-Inland Inc. (NYSE: TIN) and Verso Paper Corp. (NYSE: VRS) benefited from this loophole created from a law that provides a tax credit for the production of cellulosic biofuels. "Black liquor" is a liquid byproducts derived from processing paper or pulp and was "not intended to covered by this credit."
In the past, paper makers like International Paper Co. (NYSE: IP), Temple-Inland Inc. (NYSE: TIN) and Verso Paper Corp. (NYSE: VRS) benefited from this loophole created from a law that provides a tax credit for the production of cellulosic biofuels. "Black liquor" is a liquid byproducts derived from processing paper or pulp and was "not intended to covered by this credit."
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