Illinois Chamber of Commerce CEO Doug Whitley and the Illinois Manufacturers' Association's Mark Denzler, from left, testified against House Speaker Michael Madigan's plan to change EDGE tax credits - changes Dept. of Commerce and Economic Opportunity Director Adam Pollet backs.
One of Illinois' main tools for attracting and retaining companies in the state would get a revamp under a plan unveiled yesterday by the Speaker of the Illinois House. It drew immediate criticism from business groups.
More than 700 companies have what are known as EDGE tax credits, given in exchange for keeping, or creating new, jobs.
House Speaker Michael Madigan says his aim in changing it is to "insure that he program is being run in a way that benefits both the recipients and the taxpayers of Illinois."
Illinois Governor Pat Quinn delivered his sixth State of the State address Wednesday. As Brian Mackey reports, Quinn's speech was pretty much what you'd expect from a man fighting to keep his job despite some of the lowest approval ratings of any governor in America.
Quinn laid out a list of proposals that seem finely honed to appeal to Democratic voters: increasing the minimum wage, doubling a tax credit for the working poor, and requiring at least two days of sick time for all employees.
Doug Whitley, 63, will retire next year after a dozen years as president of the Illinois Chamber of Commerce. He submitted his resignation Thursday at the chamber's board meeting. " “It will be good for the Illinois Chamber to have a new leader with a fresh perspective when the next gubernatorial administration starts, whether Gov. Pat Quinn is re-elected or we have a new governor,” Whitley said in a statement.
After twelve years as President of the Illinois Chamber of Commerce, Doug Whitley's retiring next year.
Whitley says he's leaving disappointed, as the latest data showed Illinois with the second highest unemployment in the nation, behind Nevada.
And he says political leaders haven't done enough about it, except for one - Chicago's mayor: "With the exception of Mayor Rahm Emanuel, I don't hear any other political leaders in our state talking about jobs, trying to recruit jobs, trying to announce new jobs and showing a sincere concern with unemployment," Whitley says.
Doug Whitley, President of the Illinois Chamber of Commerce, says the state's underfunded pension systems are wreaking havoc in other areas. He says the growing cost of pension payments is forcing Illinois government to spend less on areas like education and infrastructure.