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Springfield

Madigan aims to cut state’s corporate income tax rate in half

Thu, 01/30/2014 - 4:06pm

Illinois House Speaker Michael Madigan (D-Chicago) on Thursday introduced legislation that would lower the state’s corporate income tax, a move designed to help Illinois attract and retain large companies.

Madigan’s HB 4479 would decrease the corporate state income tax rate by 50 percent, from 7 percent to 3.5 percent, according to a press release from Madigan’s office. The speaker estimated the lower tax rate would yield up to $1.5 billion in savings for corporations in the 2015 fiscal year.

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Quinn says Illinois getting fiscal house in order, turning corner

Wed, 01/29/2014 - 4:15pm

Facing re-election this year, Illinois Gov. Pat Quinn said in his State of the State speech Wednesday that “Illinois is making a comeback” due to a historic new pension bill that became law in December and other efforts the state took to clean up its finances.

Quinn pointed out in his address that he became governor “exactly five years ago to this day.” The governor explained of the time following his predecessor’s impeachment, “We were facing an unprecedented triple crisis of government corruption, economic collapse and financial instability.”

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Rauner calls on rivals to disavow unions “hijacking” election

Mon, 01/27/2014 - 12:32pm

Rutherford makes his move with Olympics TV buy

Mon, 01/27/2014 - 12:30pm

Q+A with state Rep. Elaine Nekritz

Mon, 01/27/2014 - 11:42am

State Rep. Elaine Nekritz (D-Northbrook) was a key player in the Illinois Legislature’s passage late last year of a bill designed to reduce the state’s unfunded pension liability. But Nekritz, other state lawmakers and Gov. Pat Quinn cannot declare victory in the fight to reign in the state’s pension costs just yet.

Governor candidates lukewarm on new gambling

Fri, 01/24/2014 - 4:03pm

Illinois Senate president: Chicago pension fix job 1 this year

Wed, 01/22/2014 - 12:40pm

Teens push lawmakers as unemployment climbs to 89 percent for black teens

Mon, 01/20/2014 - 10:55am

Ill. behind other states in job creation despite more than $1B in yearly business tax incentives

Fri, 01/17/2014 - 4:20pm

A bipartisan state legislative commission reported Friday that despite more than $1 billion in yearly business tax incentives, Illinois is one of the worst states for both employment and job creation.

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House committees to investigate Illinois business tax credit reform

Wed, 01/15/2014 - 10:33am

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