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.
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.”