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FOR
IMMEDIATE RELEASE
NCGA:
Hard Work of Corn Growers Pays Off with House Passage of Renewable Fuels
Standard
The hard work of
corn growers throughout the nation is one step closer to paying off
with U.S. House passage today of the conference report on the Energy
Act of 2003, comprehensive legislation that includes a renewable fuels
standard (RFS) and volumetric ethanol excise tax credit (VEETC).
National Corn Growers
Association (NCGA) President Dee Vaughan credited NCGA’s grassroots
membership with making the calls and sending the e-mails and letters
to members of the House, which overwhelmingly passed the bill by 246-180
vote. He urged swift passage by the Senate, which could vote on the
conference report as early as Thursday.
“This is going
to come down to the wire,” said Vaughan. “All the work that
we’ve done for the past 24 months will finally pay off this week.”
With House passage,
the energy bill will now advance to the Senate which is expected to
approve the legislation as early as tomorrow.
“We need to
really get to all of the Senators today and tomorrow and let them know
the energy bill is a good deal for agriculture, it’s a good deal
for the United States and we really need to get it passed, Vaughan continued.
“We will not get another opportunity like this.”
The comprehensive
energy bill includes the following provisions:
- Renewable Fuels
Standard - doubles the minimum use of ethanol to 5 billion gallons
per year by 2012.
- Volumetric Ethanol
Excise Tax Credit (VEETC) - protects highway funding while preserving
an important incentive for ethanol use.
- Modifies the
Small Ethanol Producer Tax Credit to allow farmer-owned facilities
to fully utilize the credit.
Last reviewed
November 19, 2003
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