SPRINGFIELD, Ill. – Big businesses that ship local jobs overseas will be required to pay back every dime they’ve received from Illinois taxpayers and barred from receiving any future taxpayer-funded deals under a measure passed by state Rep. Thaddeus Jones, D-Calumet City.
“Taxpayer dollars should be going to help create jobs here in Illinois, not other states or overseas,” Jones said. “Companies that accept these tax credits and then outsource jobs should be required to pay back what they took from hard-working taxpayers.”
Jones voted to pass the Keep Illinois Business Act, House Bill 3538, which would disqualify any business that has moved all or part of its business out of state from qualifying for any form of state credits, incentives and loans funded by Illinois taxpayers. The legislation would also require these businesses to pay back any monetary assistance previously received if they move jobs out of the state.
The measure is a key element of Jones’s economic reform agenda, which will create and protect Illinois jobs while also lifting up the middle class. In addition to cracking down on corporate outsourcers, Jones is fighting to reinstate tax credits for Illinois businesses that create jobs locally. Jones’s reforms also help working families keep more of their hard-earned money by expanding the Earned Income Tax Credit.
“This commonsense measure will help protect local jobs and create new ones by ensuring our taxpayer dollars are being investing in businesses that invest in Illinois,” Jones said. “I will continue advocating for policies like these that help lift-up the middle class and create opportunity for our community.”