Political Quotes

“I rise today to reintroduce the Veterinary Medicine Loan Repayment Program Enhancement Act with my friend, Senator Mike Crapo of Idaho. This bipartisan bill would exempt Veterinary Medicine Loan Repayment Program, VMLRP, awards from federal income taxation in order to increase veterinary services in areas around the country that lack adequate veterinary expertise. Authorized in 2003 by the National Veterinary Medical Services Act, NVMSA, the United States Department of Agriculture's, USDA, Veterinary Medicine Loan Repayment Program serves a dual purpose in assisting qualified veterinarians in reducing their student debt while also alleviating veterinarian shortages in rural areas. Specifically, the program authorizes the National Institute of Food and Agriculture, NIFA, to repay up to $25,000 of a veterinarian's debt per year if they agree to serve in high-priority veterinary shortage areas for at least 3 years. However, awards under the program continue to be taxed at a rate of 39 percent, effectively limiting the number of awards that can be provided and delaying veterinary services to areas in desperate need. The awards are taxed with the tax payments paid under the program by the federal government, and the tax payments themselves are also taxed. The Department of Agriculture determines whether an area is eligible for assistance under the VMLRP through a ``shortage situation'' declaration process. Currently, two circumstances lead to such a designation.…”