GOP: Make Illinois Business-Friendly, Improve Budget
SPRINGFIELD, Ill. (WBBM) -- Illinois Senate Republicans have unveiled another initiative they say will help fix the state budget, by making Illinois a more business friendly environment.
As WBBM Newsradio 780's Alex Degman reports, state Sen. Kirk Dillard (R-Hinsdale) says Illinois continually loses population and jobs to other large states such as Texas and Florida.
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One of the main reasons, Dillard said, is because the corporate income tax rate in Illinois is just too high.
"For too long, we have just passed our companies out of competition, and Republicans believe the best way to put money in the state Treasury is to put people to work in the private sector," Dillard said.
The GOP presented a list with more than 30 points they say will stimulate economic development. Among them are giving companies larger tax refunds, and phasing out recent income tax increases at a faster rate.
The party also advocates significant workers' compensation reforms.
