A new bill in Wisconsin that would have a huge impact on the bio economy in Wisconsin could be introduced as soon as this week, and would work to extend the following:
- A 45-cent-per-gallon Volumetric Ethanol Excise Tax Credit (VEETC)
- A 54-cent-per-gallon ethanol tariff
- A cellulosic ethanol tax credit
- A small producers tax credit
We are asking everyone’s help by making a call to your Congressional Representative and sending a letter asking for their support of this important bill. It is critical to gain their support now for a bill that will have such an impact on the bio industry in Wisconsin.
Without extension, these tax credits will expire at the end of this year, causing an immediate spike in fuel costs. Without the VEETC credit, for example, taxpayers will see an increase of $5.4 billion in taxes at the fuel pump, an oppressive amount in this difficult economy.
A GAO study found that since 1968 the oil industry has received more than $150 million in tax breaks, subsidies and incentives. Support for ethanol has amounted to less than a tenth of that total. Why wouldn’t we spend just as much on a source of fuel that reduces our dependency on foreign oil and increases our nation’s energy security?
Please contact your Congressional Representative in support of the bill today.
You may download talking points, a fact sheet and a sample letter below.
VEETC Key Findings from RFA
White Paper Talking Points on VEETC
Sample Letter on VTEEC
In order to have the most beneficial contact with your Congressional representative, the following is a listing of where they currently stand on the issue:
Congresswoman Baldwin – Possible Support
Congressman Kagen- Undecided
Congressman King – Undecided
Congresswoman Moore – Undecided
Congressman Obey – Undecided
Congressman Petri – Undecided
Congressman Ryan – Undecided
Congressman Sensenbrenner – Opposed
We greatly appreciate all of your support in this cause and your help in moving Wisconsin’s bio industry forward.
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