WASHINGTON – National Corn Grower Association leaders say a scaled-down version of last year’s energy bill tax incentives for the production of ethanol, biodiesel and wind energy could reach the Senate floor next week.
The bipartisan agreement would be a series of amendments that are likely to be attached to the Foreign Sales Corporation/Extraterritorial Income Exclusion legislation that is scheduled for debate when the Senate returns from its Easter break next week.
The agreement’s provisions include:
- The extension of the small ethanol producer credit and the ethanol excise tax incentive to 2010
- A new incentive for the production of biodiesel that will significantly aid farmers;
- And the reauthorization of the wind producer tax credit that expired last December and provides energy companies a 1.8-cent tax credit for every kilowatt hour produced through wind energy.
“Passing a bill that includes incentives for ethanol and biodiesel is an important step in finding a solution to the increasing gas prices, securing more jobs for Americans and decreasing our dependence on foreign oil. NCGA applauds the Senate for putting partisan politics aside and working to assure passage of legislation not only vital to corn growers, but the country as a whole.”
NCGA recently sent letters to both the White House and congressional leadership challenging political leaders to resolve the energy crisis, including the double whammy of rising fuel and fertilizer prices of recent weeks.
The NCGA has been one of the most persistent groups lobbying for passage of a comprehensive energy bill that includes the Volumetric Ethanol Excise Tax Credit and the Renewable Fuels Standard.
New Mexico Sen. Pete Dominici, chairman of the Senate Energy Committee, has been attempting to negotiate compromise legislation that would help the country meets its energy needs over the next 10 years. But his legislative proposals have stalled in the Senate due to opposition to cost and a product liability waiver for MTBE,
NCGA leaders say corn growers and producers of other commodities that could benefit from the legislation can send personalized letters to Congress encouraging passage of a comprehensive energy bill by clicking on the action alert at www.ncga.com.