State Representative Chapin Rose and Kevin Semlow Government, affairs director for the Illinois Farm Bureau, this week talked about the downstate impact of recent pro-jobs legislation. 

The recently enacted law is designed to boost the Illinois economy and includes several provisions key to downstate job creation.  The new law:

* Extends the Research and development credit – a top priority for downstate’s Caterpillar manufacturing.

*Extends the ethanol and bio-diesel credit a top priority of the Illinois Farm Bureau.

*Doubles the estate tax exemption – the estate tax is “double tax” on those who work hard to save money throughout their lives and prevents them from passing along their hard-earned assets to their children.

*Provides a $100,000 net operating loss deduction to every small business in Illinois. 

*Empowers taxpayers to fight unfair taxation by providing an independent tribunal to resolve disputes.

It is important to note that Caterpillar invests most of its research dollars in Illinois.  Rose says research helps CAT remain competitive in the global marketplace and has a direct correlation to jobs  in Decatur.  

Agriculture is the single largest job’s sector in Illinois Semlow says he appreciates Rose standing up for downstate agriculture and the local jobs that it creates.