Breaking News-RTRS - Argentine lawmakers seek to cut grain export taxes

BUENOS AIRES, Aug 25 (Reuters) - Argentine opposition lawmakers have agreed on a draft bill that would slash hefty taxes on grain exports, a major source of state revenue that President Cristina Fernandez has vowed to maintain.
The president's so-called delegated powers expired at midnight, giving Congress the power to set export taxes. Fernandez's congressional rivals have pledged to cut the multibillion-dollar levies.
The proposal approved by the lower house's agriculture committee late on Tuesday, would cut the soybean export levy to 30 percent and then reduce it by 5 percentage points per year to 10 percent in 2015, lawmaker Ricardo Buryaile said in a statement.