Wednesday, Jul 30, 2014
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Recent Comments

pjohnf - White House Pressed to Keep RFS, Biodiesel Industries Strong - Quincy, IL News - QuincyJournal.com
Franken and Senator just seem to me to be oxymoronic, they just don't go together.
gizzard93 - City of Quincy to spend $342,000 on road salt - Quincy, IL News - QuincyJournal.com
sounds like double talk to me.
SeenTheLight1 - City of Quincy to spend $342,000 on road salt - Quincy, IL News - QuincyJournal.com
Never heard of such a thing. Cities and counties along with townships submit their request, then CMS uses that total for their RFP. If a supplier cannot meet that total then I would guess some could be left off the RFP total, but have never heard of that. The other comment states " bids range from $70 to $140 per ton" so why is Quincy paying $95 per ton? Still I have never heard of CMS cutting off…
UrKidsWillPay - City of Quincy to spend $342,000 on road salt - Quincy, IL News - QuincyJournal.com
The CMS bid wasn't all or nothing RFP. Vendors could choose to bid on any of the several requests. The important sentence above is: "The Illinois Department of Central Management Services this month INFORMED MANY city and county officials in charge buying road salt that no vendors responded to their requests for bids." Many doesn't mean the same thing as ALL. Quincy happened to be among…
ONCEMORE1 - Schoenakase on WTAD\'s Mary Griffith Show - Quincy, IL News - QuincyJournal.com
Jeez, give it a rest-----even Obama stopped blaming the previous administration once the "Previous Administration" was his own.

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Madigan proposes corporate income tax cut

5 months, 4 weeks ago pantagraph.com

Rate would drop from 7 percent to 3.5 percent under the plan

From pantagraph.com:

House Speaker Michael Madigan on Thursday proposed cutting Illinois' corporate income tax in half in an effort to improve the state's business climate, a move that also could help blunt election-year criticism that Democrats' policies are to blame for a sputtering economy and stubbornly high unemployment.

The legislation would cut the rate from 7 percent to 3.5 percent, effective Jan. 1, 2014. The powerful Chicago Democrat said it would save businesses an estimated $500 million to $700 million in the current fiscal year, which ends June 30.

"I am hopeful this legislation will encourage CEOs to grow their workforces with good paying jobs," Madigan said.

But business groups offered tepid praise, saying it would impact only a fraction of Illinois companies and that other taxes - particularly the personal income tax - are of greater concern.

Kim Clarke Maisch, Illinois director of the National Federation of Independent Businesses, said 75 percent of small businesses are organized in such a way that they pay personal income taxes on all business income. According to the Legislature's Commission on Government Forecasting and Accountability, of the companies organized to pay corporate income tax, about 70 percent had no tax liability in 2010.

"It's a step in the right direction, but the real job creators are small business owners, so if we're looking to give them relief, it would be better if we were to focus on the personal income tax as well," Maisch said.

Speaking to reporters in Chicago, Gov. Pat Quinn said he hadn't talked to Madigan and wouldn't say whether he supported the idea in advance of next month's budget address.

"We'll be preparing a budget," Quinn said. "We'll look at everybody's concepts."

Democratic lawmakers in 2011 approved a temporary tax hike as a way to address Illinois' fiscal crisis. It raised the corporate income tax from 4.8 percent to 7 percent and the personal income tax from 3 percent to 5 percent.

Republicans have made the tax increase a big focus heading into the 2014 election, arguing that the Democrat-controlled Legislature squandered the billions in additional revenue and that the hike drove businesses out of state. They note Illinois still has a roughly $6 billion backlog of unpaid bills and one of the highest unemployment rates in the nation.

The issue also has become more prominent this year because the higher rates are scheduled to roll back on Jan. 1, with the corporate rate dropping to 5.25 percent and the personal income tax to 3.75 percent. Those changes would reduce revenues by about $2 billion in the second half of the next fiscal year, forcing lawmakers to either cut spending or pass new tax legislation.

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Bob Gough 15 minutes ago

@KeeneMLB Me too.
Bob Gough on Twitter

Bob Gough 18 minutes ago

aaaand...On cue, Cards fans bemoaning giving up Ramsey for Masterson. #goodlordpeople
Bob Gough on Twitter

Bob Gough 24 minutes ago

RT @dgoold: Tucked into Masterson announcement is this tidbit: Wacha has been moved to the 60-day disabled list to clear spot on 40-man ros…
Bob Gough on Twitter

Bob Gough 28 minutes ago

@DAdamWHIG @sam_douglas22 I bet Garcia never throws another major league pitch for the Cardinals. They just need to be careful with Wacha.