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.
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** 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)
