EDGE

Business climate
3:21 pm
Tue July 1, 2014

DCEO Suggests Better Marketing, Tax Credit Reform To Grow Illinois' Economy

Credit Brian Mackey/WUIS

  Illinois' economy was slow to feel the effects of the Great Recession, and has been slow to recover from it. The state's Department of Commerce and Economic Opportunity is submitting a five-year plan to the General Assembly, with suggestions for business growth ... and more state spending.

DCEO's blueprint includes measures that stalled in the legislature this spring, including raising the minimum wage to $10-dollars an hour, doubling a tax credit for the poor and investing in major infrastructure.

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Election 2014
4:12 pm
Wed June 25, 2014

Rauner Plans To Close Tax "Loopholes," Change EDGE Credits

Credit Amanda Vinicky/WUIS

  Republican candidate for governor Bruce Rauner has unveiled what he says is phase three of his plans to "Restore Illinois." It's focused on how the state taxes businesses.

In a statement — he released the plan via social media, rather than at a live event — Rauner says he wants to close "special interest loopholes."

Like a tax break for buying a racehorse.

And, in a risky move as he seeks to win newspaper editorial boards' endorsements, he wants Illinois to begin taxing newsprint.

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Economy
9:38 pm
Wed May 14, 2014

Business Groups Pan Madigan's EDGE Tax Credit Changes

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.
Credit Amanda Vinicky

  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."

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