Proposal to Reduce Ethanol Tax Credit
The House Ways and Means Committee is considering reducing the value of the ethanol tax credit by 20 percent. The credit would be worth 36 cents per gallon instead of the 45 cents per gallon which is now available. The proposal would cost $3.8 billion to extend the credit through the end of 2011. Strong objection to the proposal is expected from ethanol supporters, which would make it difficult to move the measure through Congress.
NAFA Joins in Letter to President Obama
NAFA joined with the American Truck Dealers Association, NTEA and others in sending a letter to President Obama to consider asking that he consider supporting federal tax incentives for the purchase of new, cleaner-burning medium- and heavy-duty trucks. "We strongly encourage you to examine the positive economic and environmental impacts that temporary tax credits for medium- and heavy-duty trucks could provide as part of your economic agenda," the organizations said in the letter.