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

Downtown Taylorville Building Partially Collapses

Fresh
siren

A downtown Taylorville business is closed after part of its building collapsed over the weekend.

in Local

Cameras Could Appear in Sangamon County Courtrooms

Fresh
gavel2

Half a dozen central Illinois counties could soon join a pilot project that allows cameras in court.

in Local

U of I Research: Stem Cells Could Repair Exercised Muscles

Fresh
microscope_science

Stem cell research could lead to repairs to muscles damaged by vigorous exercise.

in Election 2014, Local

Quinn Agrees to Live on Minimum Wage Salary

pat-quinn

Illinois Governor Pat Quinn has agreed to briefly live on the equivalent of a minimum-wage salary as he rallies support for a ballot measure.

in Local

Belleville Man Drowns in Pond

Updated
medical

St. Clair County police say a man has drowned in a pond following what appears to be a wheelchair or scooter accident.