BUSINESS

Congressman Walsh sends letter to Illinois leaders

Staff Writer
Aledo Times Record

Today, Congressman Joe Walsh (IL-8) sent a letter to Illinois Governor Patrick Quinn, Speaker Michael Madigan, and Senator John Cullerton regarding the state’s anti-business environment. Currently Illinois has the third highest corporate tax rate in the country, which among other things has caused businesses to move from Illinois to more business-friendly states. Until the leaders of the Illinois government implement pro-growth policies encouraging businesses to stay in Illinois, the state’s unemployment rate will continue to rise.

Walsh stated: “High tax rates and unnecessary regulations have crippled Illinois businesses forcing them to move elsewhere.  Illinois has lost 125,700 jobs this year and its private sector job growth has declined by over seven percent.  Look at what these policies have done to Sears Holding Corp, which is now considering relocating from Illinois, where it has been headquartered for the last 100 years and currently employees 20,000 people. Why would a corporation stay in a state with the third highest corporate tax rate?

“As Chairman of the House Small Business Subcommittee on Economic Growth, Tax, and Capital Access, I would like to know what Springfield is going to do to help all the Illinois businesses suffering, like Sears, in this anti-business environment. Small businesses are America’s most effective job creators, but they cannot create jobs in Illinois while the government is punishing them with higher tax rates. As a first step to creating a more business-friendly environment, I suggest that Springfield immediately cut taxes on all individuals and businesses.  America needs to know that Illinois is serious about job creation and that this is the best place to raise a family and start a business.”