“Last week Democrats proposed three different tax increases to generate new revenues for the state. Unfortunately, none of these proposals do anything to help the nearly 570,000 individuals collecting unemployment in Illinois to find the jobs that they want and need. We can’t tax our way into prosperity. To solve our long term financial problems we need to grow our economy,” said Durkin.
“House and Senate Republicans crafted this plan after seeking input from business leaders with the goal of encouraging business development and job growth in Illinois at very little cost to the taxpayers.”
Senate Republican Leader Christine Radogno said, “We have to put an end to the parade of tax increases. We’ve heard everything from extending their 67% income tax increase, a progressive tax increase and an income tax surcharge to a tax on soda pop and higher business fees. All of those will cost families in Illinois and further threaten our jobs climate. Illinois is already facing the 2nd highest unemployment in the nation and lagging behind all of our neighboring states in job creation. We cannot continue to have this climate of uncertainty.”
Another key component of the jobs plan would be to establish primary causation for workers’ compensation to lower cost and make Illinois’ employers more competitive with neighboring states.
“Illinois continues to be an outlier,” Leader Radogno said. “If we can reign in our workers’ compensation costs with common sense changes that ensure workers are provided for but bring costs in line with neighboring states – everyone will benefit. More people will be put to work if we can align the law to reflect what most people think – workers’ compensation should be for injuries occurring on the job.”
Other provisions of the Illinois House and Senate Republicans Jobs Plan include:
- Making the Research and development tax credit permanent.
- Authorize DCEO to establish 50 new Enterprise Zones.
- Reduce the cost of setting up an LLC in Illinois from $750 (currently) to $39.
- Expand the reach of science, technology, engineering, and math education opportunities in Illinois by creating STEM academies within the confines of local schools.
According to Durkin, the creation of a Networking for Success program would provide assistance to small and mid-sized employers wanting to grow. “We are suggesting that DCEO partner with non-profit business consultation firms to provide small private sector businesses with access to specialized skills like website design and search engine optimization; social media marketing; and strategic marketing research needed to take their business to the next level and create jobs,” said Durkin.
“Making the R&D tax credit permanent will help stabilize Illinois’ jobs climate,” Radogno said. “Job creators in Illinois already face so much uncertainty – from how much they’ll pay in taxes to what will their costs be from year to year. We can help increase confidence in Illinois which will lead to great investment here and more jobs.”
Durkin concluded, “Illinois’ unemployment rate of 8.7% is tied for second worst in the nation. By reprioritizing our efforts, we can help employers and entrepreneurs to thrive and grow and return Illinois to being a place where companies will want to come and stay. A healthy jobs climate is crucial to Illinois’ financial recovery.”