revenue committee

Statehouse
4:07 pm
Tue February 25, 2014

House Sets Spending Cap — Down $1b From Last Year

Credit Brian Mackey/WUIS

The Illinois House took a key first step in the state budgeting process Tuesday.

It adopted what's called a "revenue estimate" — how much money Illinois is expected to be able to spend in the next fiscal year.

The cap, of $34.495 billion, is significant in several ways: It's about a billion less than last year's number, which means lawmakers are going to have extend the tax increase or find other sources of money, or they'll have to make a lot of cuts. On the other hand, it's not as bad as some people had feared.

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Tax Credits
6:46 am
Wed November 6, 2013

Legislators Set To Give Tax Breaks ... But Not Yet, ADM

Director of Illinois' Department of Commerce and Economic Opportunity testifies at the House revenue committee about tax incentive options offered to companies looking to locate to Illinois, or threatening to leave the state.
Credit Amanda Vinicky

  State legislators are advancing a measure that attempts to lure chemical plant jobs to Illinois, but broader plans to offer companies like ADM incentives are not ready just yet. 

Archer Daniels Midland is the highest-profile case of a company looking for a tax break from the state, in exchange for creating jobs. In ADM's case, the company is looking to move its global headquarters from Decatur to ... maybe Chicago, maybe a city in another state.

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