Burke Measure Expanding Tax Credits and Lowering Fees for Small Businesses Passes House

SPRINGFIELD, Ill. – State Rep. Kelly Burke, D-Evergreen Park, supported major economic reforms cracking down on corporations that ship jobs out of state, reducing fees for small businesses and encouraging companies to hire Illinois students.

“The governor has repeatedly stated he wants to improve Illinois’ business climate and my measure does just that by lowering fees, expanding tax credits, and encouraging companies to create jobs here in our community,” Burke said. “Governor Rauner’s proposals to slash the rights of workers just to boost the profits of large corporations does nothing to improve the lives of our residents; these reforms will truly create a better Illinois for everyone, not just the very wealthy.”

House Bill 160 is a comprehensive package of economic reforms that includes ideas from both sides of the aisle. The legislation reduces the fees to open small businesses, expands tax credits for struggling families, and encourages job growth by creating tax incentives for companies who hire new workers. Burke’s measure also encourages companies to create paid internship programs for Illinois students and to hire Illinois college graduates by creating a credit that would cover 10 percent of either the stipend or salary paid of up to five college students and five new college graduates. Her bill also cracks down on corporations that ship jobs out of state by forcing outsourcers to pay back every dime they’ve received from Illinois taxpayers.

“There have been far too many times where companies receive financial bailouts from taxpayers, just to turn around and leave the state,” Burke said. “These reforms guarantee that taxpayer dollars will never go to companies who ship jobs out of Illinois and instead will help Illinois college graduates find jobs and stay in state.”