Illinois State Legislators Throwing Extra Money Away?

Posted: November 9, 2011 by freerichardwanke in IL in Fiscal Ruins
Tags: , , ,

Surprise, surprise, a primary election is on the horizon this Spring for IL state legislators.  Consequently, legislators are considering using money which they could use to stop closures of state facilities and prevent worker layoffs to instead hand out juicy tax breaks to business which is now trying to bully them.

Once ignored, Ill. tax change now center stage

“…When advocates for the needy and vulnerable wanted to stave off budget cuts earlier this year, they fought for a change in tax laws that would save Illinois hundreds of millions of dollars. Six months later, state leaders are giving the idea serious consideration – as a way to pay for corporate tax breaks.

The change, known in Springfield shorthand as “decoupling,” is part of a proposal to provide financial relief to keep Chicago financial exchanges and Sears from leaving the state. The roughly $500 million package, which Gov. Pat Quinn and legislative leaders were negotiating Tuesday, also would offer smaller forms of tax relief to businesses across Illinois and to the working poor…”

 

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