The members of one of the Republican tandems seeking your vote in March were in Springfield for a speaking engagement hours after House Speaker Mike Madigan (D-Chicago) introduced his corporate tax cut proposal. State Sen. Kirk Dillard (R-Hinsdale) and State Rep. Jil Tracy (R-Quincy) had two things to say: good idea, and about time.
“I welcome Speaker Madigan and the Democrats into the discussion, finally, on the need to overhaul Illinois’ taxes from top to bottom,” says Dillard. “It’s great that the speaker is finally engaged. Pat Quinn’s been the governor for over five years, and it was nice to have Gov. Quinn acknowledge that we need to do many things to improve Illinois’ economy.”
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The speaker’s proposal would cut the corporate income tax rate in half, from 7 percent to 3½ percent. The personal property replacement tax, which is levied on businesses just like the income tax, would stay in effect at 2½ percent, so the effective rate would fall from 9½ percent to 6 percent.
Tracy recalled a piece of the discussion as her chamber was in session Wednesday for the State of the State message: “When (State Rep.) John Bradley (D-Marion) got up on the House floor, he talked about how he was having hearings and listening to business. I can tell you that the (Illinois) Chamber (of Commerce) and the (National Federation of Independent Business), those folks that represent every business in the state of Illinois, has mentioned that that is a very important issue to them, and, hopefully, they will start doing that.”
The governor said he is aware of the speaker’s proposal but has not discussed it with him