Business, tax groups blast Quinn's loophole plan - Tri-State News, Weather & Sports

Business, tax groups blast Quinn's loophole plan

Several business and taxpayer groups oppose Gov. Pat Quinn's plan to end so-called corporate tax loopholes. They claim the proposal unfairly targets business, could hamper job creation and might be unconstitutional. 

The Illinois Senate Revenue Committee took testimony Wednesday on a proposal to end three tax breaks, including not taxing foreign dividends of multinational corporations. Quinn outlined the idea in his March budget address. His office estimates the move will bring in about $450 million annually and go toward paying down Illinois' unpaid bills. 

The Illinois Chamber of Commerce characterizes the proposal as tax increases. The Illinois Manufacturing Association says the incentives help growth and questions if the proposal is constitutional. 

The committee plans to hold several hearings on the plan. 

The bill is SB1159. 

Online: http://www.ilga.gov

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

  • LOCALMore>>

  • Testy topics discussed at Bucshon town hall meeting

    Testy topics discussed at Bucshon town hall meeting

    Friday, July 21 2017 11:42 PM EDT2017-07-22 03:42:24 GMT

    "Anytime you have one week, recess you need to be in Evansville holding one of these meetings," said one man to Congressman Larry Bucshon.  Bucshon's first in-person town hall in Evansville since the election got a flurry of questions, leading to debates between the audience, and bucshon and the crowd.  "You are telling us we cant believe in the federal government you are a part of the federal government," said one concerned man.  "...

    More >>

    "Anytime you have one week, recess you need to be in Evansville holding one of these meetings," said one man to Congressman Larry Bucshon.  Bucshon's first in-person town hall in Evansville since the election got a flurry of questions, leading to debates between the audience, and bucshon and the crowd.  "You are telling us we cant believe in the federal government you are a part of the federal government," said one concerned man.  "...

    More >>
  • Report filed after man reportedly impersonates Salvation Army employee

    Report filed after man reportedly impersonates Salvation Army employee

    Friday, July 21 2017 9:47 PM EDT2017-07-22 01:47:10 GMT
    (Source: Salvation Army)(Source: Salvation Army)

    Salvation army officials were able to quickly identify that man, because of surveillance cameras. The salvation army says the man is Joseph Haynes. 

    More >>

    Salvation army officials were able to quickly identify that man, because of surveillance cameras. The salvation army says the man is Joseph Haynes. 

    More >>
  • Historic Henderson church being deconstructed

    Historic Henderson church being deconstructed

    Friday, July 21 2017 9:37 PM EDT2017-07-22 01:37:18 GMT
    (WFIE)(WFIE)

    After 147 years, a historic Henderson church is coming down, piece by piece. Now, there's a lot of treasures left inside that are going to be up for sale. "There's holes in the roof and the whole building has become dilapidated," says Drew Knight, Ole Bigwood, LLC, "and the structure is no longer sound."   The church was built in 1870 and closed in 2010, when it was the Trinity A.M.E. Zion Church. "Every piece of it will come down and eradicated a...

    More >>

    After 147 years, a historic Henderson church is coming down, piece by piece. Now, there's a lot of treasures left inside that are going to be up for sale. "There's holes in the roof and the whole building has become dilapidated," says Drew Knight, Ole Bigwood, LLC, "and the structure is no longer sound."   The church was built in 1870 and closed in 2010, when it was the Trinity A.M.E. Zion Church. "Every piece of it will come down and eradicated a...

    More >>
  • Trending StoriesTrending StoriesMore>>

  • NASA issues warning: You may have a bad pair of eclipse glasses

    NASA issues warning: You may have a bad pair of eclipse glasses

    Friday, July 21 2017 11:22 AM EDT2017-07-21 15:22:03 GMT
    The path of the total solar eciipse on August 21, 2017 crosses directly over Columbia and the Midlands. (Source: NASA)The path of the total solar eciipse on August 21, 2017 crosses directly over Columbia and the Midlands. (Source: NASA)

    As the world, the United States, and South Carolina prepared for arguably the coolest celestial event in decades, our old friends at NASA want you to know that pairs of unsafe solar eclipse glasses are being distributed. 

    More >>

    As the world, the United States, and South Carolina prepared for arguably the coolest celestial event in decades, our old friends at NASA want you to know that pairs of unsafe solar eclipse glasses are being distributed. 

    More >>
Powered by Frankly