Here’s a headline that shouldn’t surprise anyone: “Business groups complain about Illinois taxes.” That’s the headline that ran in Tuesday’s State Journal-Register after a hearing in Chicago on Illinois corporate income taxes adjourned. Three more hearings on this same issue will be held across the state through the summer. The hearings are a direct result of companies threatening to leave Illinois because of legislation this year that temporarily increased the state’s corporate income tax rate.
Senate President John Cullerton asked that businesses testify at the hearings. He also said he was hoping, through the hearings, “to take a holistic approach to business taxes as opposed to the continued piecemeal policies that often pit one business against another.” This is a laudable goal, but it doesn’t take a crystal ball to predict that the some in the business community will keep making the same basic demands.
Some corporations want to reduce the corporate income tax rate, while others say that tax credits or special incentive programs should be expanded. Of course, these are costly propositions that will make it even harder for Illinois to balance its budget.
We applaud Illinois lawmakers for delving more deeply into corporate tax reform and specifically tax expenditure reform. But it’s important that the committee hear from a range of voices rather than just the same old group saying the same old thing – that their taxes are too high.
Photos via Jimmy Wayne Creative Commons Attribution License 2.0