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FOR
IMMEDIATE RELEASE
NATIONAL CORN GROWERS ASSOCIATION
CONTACT:
Mimi Ricketts, NCGA
636-733-9004, ext. 112
October 11, 2004
NCGA Applauds Congressional Passage of American Jobs Creation Act
ST. LOUIS (October 11, 2004) -- The National Corn Growers Association
(NCGA) hailed Senate passage today of the American Jobs Creation Act
of 2004 conference report, which includes ethanol and biodiesel provisions.
The bill passed the Senate by a 69 to 17 vote. The conference report
passed through the House Oct. 7 by a 280 to 141 vote.
“Corn growers have a big win with the passage of this legislation
and the energy tax incentives, but we are by no means finished,” said
NCGA President Leon Corzine. “We must have a comprehensive energy
bill that includes a renewable fuels standard. NCGA will continue to
work hard to secure a comprehensive energy policy for our nation as
quickly as possible.”
The Volumetric Ethanol Excise Tax Credit (VEETC) provision will extend
to 2010 an existing tax incentive for using ethanol-blended gasoline,
and re-direct funds generated by an excise tax on ethanol to the highway
trust fund. The small ethanol producer credit provision included in
the bill will make farmer-owned cooperatives eligible for this tax
credit, which will provide millions of dollars per year in tax relief
to the farmer owners. The biodiesel provision will create a new tax
credit of $1 per gallon for agri-biodiesel, and 50 cents per gallon
for biodiesel (recycled oil).
“All of these important incentives will continue to grow the
ethanol industry by attracting new investments in ethanol plant development,” Corzine
said. ”Increased ethanol production is good for our farmers and
for our communities.”
”We applaud both the House and Senate members for working so
hard to pass such an important piece of legislation that will not only
benefit rural America but the entire nation,” He continued. “This
bill will help our farmer-cooperatives that produce ethanol to advance
the already growing ethanol industry, promote more jobs for rural Americans
and make our planet a little bit greener.”
The bill will now
move to President Bush’s desk, where he is
expected to sign it.
“This legislation promotes business opportunities like the farmer-owned
co-ops in addition to growing the job market for this nation. Ethanol
production has more than doubled in the last four years -- it’s
a national success story for agriculture. I have no doubt President
Bush will sign this bill. He understands the important role agriculture
has to play in growing our country’s energy future,” Corzine
said.
The National Corn
Growers Association mission is to create and increase opportunities
for corn
growers in a changing world and to enhance corn’s
profitability and usage. NCGA represent nearly 33,000 members, 26 affiliated
state corn grower organizations and hundreds of thousands of growers
who contribute to state checkoff programs.
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