News

Lawmakers Question Illinois’ Corporate Tax Breaks

Lawmakers Question Illinois’ Corporate Tax Breaks

Photo: Newsradio WTAX

Illinois lawmakers are questioning the effectiveness of the state’s system for giving tax breaks to corporations.

Legislators held the first of several hearings on the issue Friday in Chicago.

Dan Long is executive director of the Commission on Government Forecasting and Accountability. He tells legislators Illinois businesses benefited from about $1.5 billion in tax breaks in 2012.

Yet lawmakers note Illinois has one of the highest unemployment rates in the nation.

Republican state Rep. David McSweeney says “What is clear is what we’re doing isn’t working.”

But Connie Beard of the Illinois Chamber of Commerce calls the state’s main incentive program a “very valuable tool” for attracting and keeping business.

The hearings could lead to legislation to change the state’s incentive programs during the General Assembly’s spring session.

Recent Headlines

in Local

Ban on “Conversion Therapy” Passes Legislature

gay_marriage

The Illinois Senate has approved a ban on therapy designed to "convert'' gay young people to heterosexuals.

in Local

Union Legislation Would Prohibit Strike or Rauner Lockout

afscme

The House has approved a measure that changes government-employee contract negotiations just a month before the deadline for a new contract.

in Local

Mark Hart Named Interim Springfield Fire Chief

springfield fire dept

Springfield has an interim fire chief.

in Local

Hastert Resigns from Wheaton College Board

FILE - In this Aug. 17, 2007, file photo, Rep. J. Dennis Hastert, front, R-Ill., announces that he will not seek reelection for a 12th term as he stands on the steps of the old Kendall County courthouse with, from left, his son Josh; wife Jean; and daughter-in-law Heidi, grandson Jack, in Yorkville, Ill. A newly unveiled indictment against Hastert released Thursday, May 28, 2015, accuses the Republican of agreeing to pay $3.5 million in hush money to keep a person from the town where he was a longtime schoolteacher silent about "prior misconduct."

The resignation was the latest fallout from a federal indictment accusing Hastert of violating banking laws.

in Local

Rauner: No Special Session if No Agreement Reached by Sunday

rauner

Gov. Bruce Rauner says he will not call lawmakers back into session if there's no agreement on a budget by Sunday.