Political Quotes

“Madam President, as a matter of right, I ask that my amendment be modified with the changes I now send to the desk. Further, I make the point that I retain my right to the floor after the modification is made under the precedents of the Senate. The PRESIDING OFFICER. The Senator has the right to modify the amendment. The amendment, as modified, is as follows: (Purpose: To repeal the Volumetric Ethanol Excise Tax Credit) At the end, add the following: SEC. ___. REPEAL OF VEETC. (a) Short Title.--This section may be cited as the ``Ethanol Subsidy and Tariff Repeal Act''. (b) Repeal of VEETC.-- (1) Elimination of excise tax credit or payment.-- (A) Section 6426(b)(6) of the Internal Revenue Code of 1986 is amended by striking ``December 31, 2011'' and inserting ``the later of June 30, 2011, or the date of the enactment of the Ethanol Subsidy and Tariff Repeal Act)''. (B) Section 6427(e)(6)(A) of such Code is amended by striking ``December 31, 2011'' and inserting ``the later of June 30, 2011, or the date of the enactment the Ethanol Subsidy and Tariff Repeal Act''. (2) Elimination of income tax credit.--The table contained in section 40(h)(2) of the Internal Revenue Code of 1986 is amended-- (A) by striking ``2011'' and inserting ``the later of June 30, 2011, or the date of the enactment of the Ethanol Subsidy and Tariff Repeal Act'', and (B) by adding at the end the following: ``After such date................................. zero zero''.…”