Kevin Schmidt can’t shake off his sense of uncertainty when pondering the U.S. Senate’s recent efforts to rein in the government’s deficit.
“It’s definitely a cause for concern,” said the 56-year-old farmer from La Salle, referring to a deal last week that will end on July 31 a 45-cents-per-gallon tax credit toward ethanol production.
The decision to end the tax credit five months before the end of the year, which in itself saves the government $2 billion, is now in the hands of the House of Representatives.
Schmidt and other local corn producers and experts expressed little doubt that the measure will hurt the price of a crop that covers more acres in Weld County than any other.
“It’s a good-sized issue that has potential to affect the bottom line of agriculture in a big way,” said Schmidt, who plants about 300 acres of corn each year on the land he’s farmed his entire life. “The price of corn is definitely my immediate concern. That’s where I believe it could affect us the most.
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