Lawmakers question Illinois' corporate tax breaks
Sat, 18 Jan 2014 14:00:00 GMT —
Illinois lawmakers are questioning the effectiveness of the state's system for giving tax breaks to corporations.
Legislators held the first of several hearings on the issue Friday in Chicago.
Dan Long is executive director of the Commission on Government Forecasting and Accountability. He tells legislators Illinois businesses benefited from about $1.5 billion in tax breaks in 2012.
Yet lawmakers note Illinois has one of the highest unemployment rates in the nation.
Republican state Rep. David McSweeney says "What is clear is what we're doing isn't working."
But Connie Beard of the Illinois Chamber of Commerce calls the state's main incentive program a "very valuable tool" for attracting and keeping business.
The hearings could lead to legislation to change the state's incentive programs during the General Assembly's spring session.