Page 3 - Illinois Soybean Growers Association News Today : Breaking News, Live Updates & Top Stories | Vimarsana
Lawmakers spar with Pritzker administration over changes to corporate tax code
herald-review.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from herald-review.com Daily Mail and Mail on Sunday newspapers.
State lawmakers, Pritzker administration spar over projected fiscal year revenues
sj-r.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sj-r.com Daily Mail and Mail on Sunday newspapers.
(The Center Square/WMAY) Some are taking issue with Governor J.B. Pritzker’s Fiscal Year 2022 budget proposal which would bring an end to the sales tax exemption for biodiesel fuel in Illinois.
Pritzker said accelerating the expiration of the sales tax exemption for biodiesel will increase the state general funds revenues by an estimated $107 million dollars.
The Illinois Soybean Growers Association is not happy about it. Chairman Doug Schroeder said Illinois uses 180 million gallons of biodiesel each year which generates $600 million to Illinois family farms annually.
“To get the tax credit, you have to have 11% bio in the mix or more, and if that tax credit goes away, it will be a little cheaper to run straight diesel, so that is going to be a problem,” said Schroeder.
Normal, IL, USA / www.cities929.com
Feb 19, 2021 1:14 PM
(The Center Square) – Some are taking issue with Governor J.B. Pritzker’s Fiscal Year 2022 budget proposal which would bring an end to the sales tax exemption for biodiesel fuel in Illinois.
Pritzker said accelerating the expiration of the sales tax exemption for biodiesel will increase the state general funds revenues by an estimated $107 million dollars.
The Illinois Soybean Growers Association is not happy about it. Chairman Doug Schroeder said Illinois uses 180 million gallons of biodiesel each year which generates $600 million to Illinois family farms annually.
“To get the tax credit, you have to have 11% bio in the mix or more, and if that tax credit goes away, it will be a little cheaper to run straight diesel, so that is going to be a problem,” said Schroeder.