The Chicagoland Chamber of Commerce is strongly discouraged by the Governor’s call to make permanent the 67 percent income tax increase at a time when Illinois’ business environment is already at a serious competitive disadvantage compared to our neighboring states.
The Chamber urges the Governor and Illinois General Assembly to allow the temporary income tax increase in effect to expire and revert to 3.75 percent for individuals and 5.25 percent for corporations as scheduled.
“The State should be focused on reducing the tax and regulatory burden on businesses to create a friendly business environment and promote growth and job creation,” said Theresa E. Mintle, President and CEO of the Chicagoland Chamber of Commerce.
The Chamber stresses the utmost importance for a dependable tax code for businesses and argues that the constant lack of predictability makes it difficult for businesses to grow, expand and relocate in Illinois.
“We face a monumental challenge of how to best solve the state’s fiscal mess, including the fact that we have a backlog of $5.4B in unpaid vendor bills,” said Mintle. “Illinois needs to stop piecing together ad hoc proposals to solve our budget problems. This hurts job creation and propagates Illinois’ reputation as an unfriendly place to do business. The time is now to reverse that course and we can start by rolling back the 67 percent temporary income tax increase.”
About the Chicagoland Chamber of Commerce
The primary role of the Chicagoland Chamber of Commerce is to make Chicagoland the most business-friendly region in America by enhancing our members’ success through aggressive programs in advocacy, member benefits and services, and actionable information. Serving as “The Voice of Business” since 1904, the Chambers leads aggressive public policy and business growth initiatives and creates meaningful events and programs to inform, engage and connect our members to each other and the community. Visit www.ChicagolandChamber.org for more information.
Andree Dolan, Vice President, Communications & Programs
Chicagoland Chamber of Commerce
Telephone: (312) 494-6779