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

Illinois Tollway Expects Spike in Holiday Traffic

IL Tollways

Free coffee will also be available at tollway oases.

in Local

Quinn Signs Bill to Pay Jurors More in Illinois

Governor Quinn Signs Historic Pension Reform

Quinn signs bill to increase daily pay for those who serve jury duty in Illinois.

in Local

Central Illinois Food Bank Says Need is Great All Year Long

foodbank

Executive Director Pam Molitoris says need remains great the entire year.

in Local

T-Mobile Customers May Be Eligible for Refunds

local_news_generic

Court ruling says cellphone company illegally charged customers