Corn
Growers Near Victory with House Passage of Energy Bill (7-28-05)
National
Corn Growers Association says bipartisan bill a win for all Americans
National Corn
Growers Association (NCGA) President Leon Corzine today said House
passage of the Energy Policy Act of 2005 brings the nation a step
closer to energy independence and a comprehensive policy for energy
use and production. The House approved the measure 275-156.
Corzine said the 7.5-billion-gallon Renewable Fuels Standard (RFS)
included in the conference report will advance the use of domestically
produced renewable fuels, bring much needed jobs to rural America,
and enhance U.S. energy independence.
The RFS will begin at 4 billion gallons being blended into the nation’s
fuel supply in 2006, and increase to 7.5 billion gallons by 2012.
“The passage of the conference report by the House today has
taken us one step closer to the goal line and a victory for all
U.S. consumers who will realize the benefits of increased energy
independence, improved air quality, and lower gasoline prices through
the RFS,” Corzine said.
The ethanol market is the most successful and fastest growing value-added
market for farmers. Corzine said the energy bill conference committee
sent a positive message on what results from working in a bi-partisan
fashion on comprehensive energy policy.
“For more than five years, corn growers have pushed for comprehensive
national energy policy that includes an RFS. By working side by
side with industry and government we have built the ethanol industry
from the ground up,” he said. “Growers throughout
the Corn Belt have worked tirelessly in making the case for expanded
use of domestic renewable fuels, such as ethanol and biodiesel,
and we are grateful the House action recognizes this need.”
In addition to the RFS, the bill’s tax title:
•
Expands the definition of a “small ethanol producer”
to 60 million gallons annually
• Extends the tax credit to agri-biodiesel producers until
2008
• Extends the biodiesel excise tax credit through 2008
• Establishes a credit for installing alternative fuel refueling
property, including E85 and B20
• Provides for a two-year extension of the wind energy production
tax credit
• Establishes three investment tax credits for clean coal
facilities, including a 20 percent credit for industrial gasification
projects.
The Senate vote on the H.R. 6 Conference Report is expected later
this week.