NCGA
Urges Administration, Congress to Complete VEETC Legislation
(9-22-04)
The Volumetric
Ethanol Excise Tax Credit (VEETC) under consideration in Congress
would contribute to energy independence, cleaner air, safer
highways and a stronger agriculture sector, according to a letter
sent Tuesday to President George W. Bush by the National Corn
Growers Association (NCGA) and more than 100 other organizations.
The groups
urged Bush to work with Congress to complete VEETC, which has
been included in the tax sections of three pending pieces of
legislation – the jobs, energy and transportation bills.
Current conference discussions on the jobs bill may provide
the most feasible avenue for VEETC, the groups said.
“We
believe the ongoing conference negotiations on the American
Jobs Creation Act of 2004 provides an appropriate forum to address
these important issues and we hope, with your leadership, to
complete the legislation this year,” the letter said.
VEETC would
reform several provisions in current law. Specifically, it would
ensure taxes on ethanol-blended motor fuels will be credited
to the Highway Trust Fund, extend the ethanol tax incentive
through 2010 and maintain the small ethanol producer tax credit.
“Both
the Senate and House are to be commended for moving this legislation
to the verge of a conference negotiation and saluted for crafting
for crafting legislation that recognizes the importance of ethanol
and biodiesel to the U.S. economy…” the letter stated.
To read
the letter in its entirety, click
here.
To send
a letter to Congress urging swift action on VEETC, click
here.