SPRINGFIELD, Ill. – Under economic reforms sponsored by state Rep. John D’Amico, D-Chicago, middle-class families will see lower tax burdens and local employers will be able to compete better due to reforms that crack down on corporations that ship jobs out of state and reduce fees on small businesses
“In order to boost our state’s economy we need to bolster the middle-class and help local employers compete,” D’Amico said. “Those are the people that drive are economy and we need to focus on helping them—not billionaire CEOs and large corporations.”
D’Amico’s House Bill 160 is a comprehensive package of economic reforms that includes ideas from both sides of the aisle. His legislation reduces the fees to open small businesses, expands tax credits for working families, and encourages job growth by creating tax incentives for companies who hire new workers. D’Amico’s measure also cracks down on corporations who ship jobs out of state by forcing outsourcers to pay back every dime they’ve received from Illinois taxpayers.
“Our end goal is to spur local economic growth and create jobs locally and statewide,” D’Amico said. “In order to do this, we need to expand tax-breaks for middle class families and level the playing field for small and medium-sized businesses by eliminating unfair corporate tax loopholes.”