Peripheral IV catheter placement is a valuable skill, but one that can't logically be restricted to only LVT's. In areas of the state where there are too few LVT's, making this function something only DVM's can do could potentially compromise patient care. 

Personally I have worked with unlicensed professionals that have excellent skill levels from decades in veterinary practice, but no license, and fresh LVT graduates with little skill. If it were my dog's life on the line, I would want whoever can place that catheter right, the first time, to do it, regardless of whether they have a license. 

LVT's bring so much more to veterinary practices than peripheral IV cather placement (at least, they should). Allowing non licensed, trained personnel to place catheters under the supervision of a veterinarian is hardly "taking things away" from the LVT toolkit.