We Need Your Feedback!

Illinois’ elected officials might wish to deny it, but there are economic consequences to political decisions. For example, raising the corporate income tax in January to 9.5 percent from 7.3 percent and making it the third highest in the nation was a mistake that should be reversed.

We see fallout from the move almost daily as major corporations — Sears and Motorola Mobility, to name a few — seek incentives to remain in Illinois.

Gov. Pat Quinn’s high profile attempts to accommodate larger companies demonstrates necessary attentiveness to the needs of employers, because job growth is the key to the state’s economic turnaround. Unfortunately, the Administration can’t satisfy one high-profile employer at a time in a state with 372,000 registered businesses is not the solution as it overlooks other long-standing employers who pay taxes and handle business challenges without special consideration.  The state would be better served with clearly stated, universal policies that encourage company investments in productivity and people.

Encouraging investment is not accomplished by having corporations carry a heavy tax burden; it’s done by improving the business climate in Illinois. The goal is a boost in job creation, and people with paychecks will do more to contribute to the state’s coffers than raising business taxes.

Governor Quinn and our legislative leaders are focusing on Illinois tax policy this summer.  Governor Quinn recently announced he will be forming a tax commission to review the State’s tax structure.

House Speaker Madigan and Senate President Cullerton have announced the formation of a joint House/Senate Revenue Committee task force to specifically study the Illinois business tax climate.   Senator Toi Hutchinson and Representative John Bradley will be co-chairing the task force and they will be conducting a series of public hearings this summer to solicit input from the business community on how we can improve Illinois’ business tax climate.

We are committed to both of these initiatives because we believe that by working cooperatively we can help create an environment where businesses will want to invest and grow jobs.

But we need your help.

We are once again soliciting your expertise, as business persons, local Chamber of Commerce executives, professional site selection personnel, economic development directors, and tax experts.  We need your input to continue to develop and improve the Chamber’s Jobs Agenda for Illinois—an agenda we can share with legislative leaders this summer and work toward implementing when the General Assembly next convenes.   We need to hear from you, our members and friends, about any government roadblocks or potholes on your road to success.  And we need to hear from you as soon as possible so that we can make sure your voice is heard this summer as we focus on developing an agenda designed  to significantly improve our business tax climate in Illinois.  Please let us know your thoughts about:

•  Any state or local tax administrative processes you encounter that are overly burdensome, too time consuming or expensive, that you would like to see improved?

•  From a short term perspective, any specific state and/or local tax laws or tax burdens that are preventing you from investing further in jobs or equipment?  Of the tax laws on the books today, what would you like to see improved and how?

•  Long term, if you could structurally re-design the Illinois business tax system, what would you recommend?   Are there other state tax systems that are easier to comply with, more fair, or more pro-growth?

Please take a moment and send us your thoughts and concerns about Illinois business tax issues.  We need to take steps now to improve the economic fortunes of employers and citizens of Illinois, we need to address the challenges of job creation in our state, and we need to reverse the perception that Illinois is not a business-friendly state.   Now is the time to speak up.  Please forward your thoughts and concerns on state and local business tax issues to Connie Beard, Executive Director of the Chamber’s Tax Institute at cbeard@ilchamber.org.   We want to tell legislative leaders specifically what our members need and want to improve the economic fortunes of employers and citizens of Illinois.