Attempting to dent Illinois’ $9 billion deficit and backlog of bills, Gov. Pat Quinn’s budget proposal last week called for closing a few corporate tax loopholes. But a representative from the Illinois Chamber of Commerce claims those loopholes are corporate incentives and job creators.
Todd Maisch, vice president for government affairs for the Illinois Chamber of Commerce, told the Associated Press the elimination of tax loopholes “is just one more way in which Illinois is the leader of the pack of doing things that employers will shake their heads and say, ‘When are these guys going to figure it out, that you’ve got to help us and not continually have an agenda that whacks us on the head?’”
According to Maisch, corporate tax breaks help support the economy and budget because employers hire taxpayers and make money.
Quinn aims to reduce Illinois’ deficit by 20 percent before the end of the 2014 fiscal year.
“It is no time for corporate tax loopholes when the state of Illinois has bills to pay,” spokeswoman for the office of Gov. Quinn, Brooke Anderson, said. “Suspending these loopholes until the backlog is paid down will ensure vendors are paid faster, which is good for the economy and the budget.”
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