Explore our content

All types | All dates | All authors
Natashia Holmes
Quick Hit
by Ellyn Fortino
4:37pm
Thu Sep 25, 2014

Chicagoans Urge Emanuel To Support Corporate Tax Transparency Ordinance (VIDEO)

Chicagoans protested at Mayor Rahm Emanuel's office Thursday morning for corporate tax transparency.

At City Hall, activists with the regional community advocacy group IIRON urged Emanuel to support a long-pending ordinance that would require all publicly-traded corporations seeking subsidies or contracts from the city to publicly disclose the amount they pay in Illinois income taxes and any tax breaks they receive.

Big corporations asking for city actions, subsidies and contracts would also have to report net and taxable income under the proposed Chicago Corporate Responsibility and Tax Disclosure Act, which Ald. Will Burns (4th) introduced last November. Since then, the proposed ordinance, which has 12 co-sponsors, has been stuck in the Finance Committee, chaired by powerful Ald. Ed Burke (14th).

"Resources have been cut, and cut again, as we are told that we are in a 'budget crisis,'" said IIRON member Maria Alicia Ibarra of Bridgeport's First Lutheran Church of the Trinity. "At the same time, it is not clear (whether) corporations making record profits are paying their fair share to the common good ... Show us the money. Give us transparency."

Quick Hit
by Ellyn Fortino
1:53pm
Wed Nov 20, 2013

Ald. Burns Introduces Chicago Corporate Tax Disclosure Ordinance

Ald. Will Burns (4th) wants all publicly-traded corporations seeking subsidies or contracts from the city of Chicago to publicly disclose the amount they pay in Illinois income taxes as well as any tax breaks they receive. 

Burns introduced the Chicago Corporate Responsibility and Tax Disclosure Act at Wednesday's city council meeting. Under the proposed measure, big corporations asking for city actions, subsidies and contracts would also have to report net and taxable income.

Alds. Pat Dowell (3rd), Leslie Hairston (5th), Roderick Sawyer (6th), Natashia Holmes (7th), Toni Foulkes (15th), Ricardo Munoz (22nd), Deb Mell (33rd), Michele Smith (43rd), James Cappleman (46th), Ameya Pawar (47th), Harry Osterman (48th) and Joe Moore (49th) have signed on as co-sponsors to the measure thus far. Leaders with the Fair Economy Illinois coalition are also in support of the proposed ordinance, which has been sent to the Finance Committee.

"We are increasingly turning into a society, which in the words of Martin Luther King, Jr. takes necessities away from the many and gives luxuries to the few," Fair Economy Illinois leader Rev. Marlan Branch of St. James AME Church said before Wednesday's council meeting. "The city of Chicago spends millions of dollars each year subsidizing and contracting with big corporations. Those corporations have a particular responsibility to support the common good, which should include publicly disclosing the corporate income tax they pay to the state of Illinois."