[ Search ] [ Legislation ] [ Bill Summary ]
[ Home ] [ Back ] [ Bottom ]
90_HR0205
LRB9005885KBkb
1 HOUSE RESOLUTION
2 WHEREAS, Illinois is the nation's top producer of
3 ethanol, the corn-based fuel that protects the environment
4 and decreases the nation's dependence on foreign oil; and
5 WHEREAS, Illinois ranks second among all states in the
6 production of corn, with more than 1.5 billion bushels of
7 corn produced annually; and
8 WHEREAS, This year in Illinois the ethanol industry will
9 help create 33,800 jobs and provide $96.3 million in new tax
10 receipts; and
11 WHEREAS, Ethanol increases the nation's net farm income
12 by more than $4.5 billion and generates more than $3.5
13 billion in net federal budget savings; and
14 WHEREAS, The continuation of the federal ethanol tax
15 credit will provide adequate time for technology to be
16 developed and made commercially available allowing ethanol to
17 compete on a cost-effective basis with other fuels, and will
18 allow a competitive marketplace to be established whereby
19 ethanol can compete with other fuels; and
20 WHEREAS, The United States Congress is considering the
21 elimination of the federal ethanol tax credit; and
22 WHEREAS, A United States Department of Agriculture report
23 predicted that if the ethanol tax credit is eliminated the
24 nation's net farm income would decrease $8.2 billion and the
25 U.S. trade deficit would increase $6.5 billion by 2005, and
26 Illinois farm income would decrease $573 million over this
27 same period; and
28 WHEREAS, The United States Congress' previous approval of
29 the ethanol tax credit through the year 2000 represents a
30 commitment that farmers and agribusiness counted on when
-2- LRB9005885KBkb
1 making crucial business decisions; therefore, be it
2 RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE
3 NINETIETH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we
4 urge the United States Congress to continue the federal
5 ethanol tax credit which supports the ethanol industry,
6 farmers, environmental stewardship, and less dependence on
7 foreign oil.