Eight Illinois congressmen who sponsored an extension of financial incentives for ethanol production have been praised by the Illinois Farm Bureau.
They are Republican Tim Johnson of Champaign, John Shimkus of Collinsville and Aaron Schock of Peoria; and Democrats Debbie Halvorson of Crete, Danny Davis of Chicago, Jerry Costello of Belleville, Bill Foster of Batavia and Phil Hare of Moline.
Shimkus and U.S. Rep. Earl Pomeroy, D-North Dakota, are chief sponsors of H.R. 49-9, which would continue the per-gallon tax credit paid to ethanol blenders. In 2009, the credit totaled $4.8 billion while the U.S. ethanol industry generated $8.4 billion in federal revenue and $7.5 billion for state and local governments, IFB reported.
It is estimated that extending tax incentives for ethanol production will save 112,000 U.S. jobs and will contribute $4.2 billion to household incomes in the U.S.
source: daily-journal
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