Mon January 23, 2006
Tax Break Might Help Region
Macomb, IL – A part of the Illinois governor's State of the State address could be a benefit to the western Illinois economy. Gov. Rod Blagojevich suggested a $500 sales tax credit for anyone who buys a new fuel-efficient car. Chris Merrett of the Illinois Institute for Rural Affairs says the move could increase the market for ethanol. He says this would bring better prices for corn growers. It would also help the farmers who have invested in ethanol production plants. In addition, it could increase the market for the American-made cars that run on fuel that's 85 percent ethanol. Merrett says the move could also increase support for the Illinois Institute for Rural Affairs, bolstering its efforts to research and teach the business part of ethanol production and marketing.