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. Kathleen Willis, D-Addison.
“Tax incentives are meant to be a resource to help businesses grow our local economy and create new jobs here at home,” Willis said. “Corporations that receive these credits and loans bear a responsibility to the taxpayers who provided this assistance. Picking up and moving jobs out of state is no way to repay that investment.”
Willis 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 Willis’ 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, Willis is fighting to reinstate tax credits for Illinois businesses that create jobs locally. Willis’ reforms also help working families keep more of their hard-earned money by expanding the Earned Income Tax Credit.
“It’s long past time to hold big businesses accountable to paying their fair share,” Willis said. “This includes making sure that corporations who take advantage of taxpayer-funded incentives either fulfill their commitments to our communities or pay back the money to the working families who funded these incentives in the first place.”
Visit Rep Wills website
264-S Stratton Office Building
Springfield, IL 62706
(217) 524-0448 FAX
112 N. Wolf Rd.
Northlake, IL 60164
(708) 562-6974 FAX