The Illinois Black of Chamber of Commerce says allowing the temporary income tax increase to expire will hurt minority-owned businesses. Chamber president Larry Ivory says the budget isn’t perfect, but he believes if the income tax rate drops to 3.75 percent as scheduled in 2015, the resulting cuts would hit the African-American community the hardest.
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“What we find to be the case is that when the cuts happen, it tends to impact us. They say, ‘When the white community has a cold, we have the flu,’” Ivory said. Ivory says while the chamber supports the governor’s budget proposal, it is concerned that black-owned businesses aren’t getting a fair share of contracts to do work for the state.
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