Legislation to Extend Tax Incentive Permanently
| Noting that the ethanol tax incentive is one
of the only energy tax incentives with a sunset date, Senator Byron Dorgan
has introduced legislation to level the playing field by making the ethanol
tax incentives permanent as well. The legislation is co-sponsored by Senators
Kent Conrad, Tom Daschle, and Tim Johnson. "Ethanol is an important part of our domestic fuels industry, and it merits continued support via the Tax Code," said Dorgan. "I think it's time to make the major ethanol tax incentives a permanent part of our Tax Code, as are many tax incentives for other energy sectors." |
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"The overwhelming vote of 69 to 30 on the Senate floor during consideration of the tax bill this summer shows that a vast majority of Senators strongly favor continuing the ethanol tax incentives," said Dorgan. "Allowing the ethanol tax incentives to expire in 2000 is short-sighted and unfair. The ethanol industry is no less important than the other energy sectors which enjoy permanent tax incentives, and the Internal Revenue Code should reflect this simple fact." |
