News

Democrats, GOP Spar Over “Business Inversion”

Democrats, GOP Spar Over “Business Inversion”

Illinois Republicans and Democrats are butting heads over the solution to companies reincorporating out of the United States to save on taxes.

Gov. Pat Quinn is favor of changing the tax code to remove the incentive for companies to, on paper, move overseas while keeping most of their operations in the U.S.

“We can’t have corporate deserters leaving our country, trying to go elsewhere to pay less than they should in taxes that support America,” Quinn said.

U.S. Senator Dick Durbin (D-Ill..) has introduced legislation removing those loopholes and preventing so-called inverted corporations from receiving federal contracts. His Republican opponent in the November election, State Sen. Jim Oberweis (R-Sugar Grove), doesn’t think highly of those ideas.

“Oh my gosh, what a lame-brained…stupid idea,” Oberweis said. “I mean, that’s about as nice as I can be about it.”

Oberweis claims companies are following rules Durbin and other Democrats put into place.

Recent Headlines

in Local

New Illinois Schools Chief Says Funding Fix Could Take Years

Tony Smith

Smith also says charter schools should be part of the mix.

in Local

Debate in General Assembly over Civics Class Requirement

Illinois General Assembly

Bill also passed to use e-learning in Illinois schools during inclement weather.

in Local

Autism Programs Hopeful Lawmakers Will Come to Their Rescue

autism

Providers say some programs may not survive if funding is not restored.

in Local

DeWitt Co. Settlement OK’d in Dispute to Put Toxic Waste Over Aquifer

water

DeWitt county has approved a settlement with a landfill company.

in Local

Kankakee Co. Sheriff Describes Security Lapses that led to Inmate Escape

inmate_exiting_kamron_taylor

Sheriff Tim Bukowski says investigators found no inmate count had been done.