State of Illinois Archives: on Corporations


Jim Oberweis: Corporations go overseas when taxes & governments bully them

Sen. Dick Durbin says the middle class needs help. He supports stopping major corporations from reincorporating overseas to reduce their taxes.

Oberweis has accused Durbin of "bullying" the corporations that consider moving their headquarters overseas for tax purposes. He chides Durbin for not preventing the exodus with a rewrite of the tax code.

Oberweis is an investment manager and dairy owner known for the ice cream parlors that carry his name. He touts his private-sector success and derides Durbin as a "career politician." Oberweis said, "I freely admit that I'm not as good a politician as I am a job creator. Dick Durbin has never created a private-sector job in his entire life." Oberweis believes lower taxes and fewer federal regulations would help improve workers' fortunes.

Libertarian Sharon Hansen is aligned more closely with Oberweis on inversions, saying: "We need to lower their taxes so they don't want to go someplace else."

Source: Chicago Tribune on 2014 Illinois Senate debate Oct 13, 2014

Sharon Hansen: Lower corporate tax rates prevent companies going overseas

Sen. Dick Durbin says the middle class needs help. He supports stopping major corporations from reincorporating overseas to reduce their taxes.

Republican Jim Oberweis has accused Sen. Durbin of "bullying" the corporations that consider moving their headquarters overseas for tax purposes. He chides Durbin for not preventing the exodus with a rewrite of the tax code. Oberweis believes lower taxes and fewer federal regulations would help improve workers' fortunes.

Libertarian Sharon Hansen said the IRS should be abolished and current tax provisions replaced with a flat sales tax, though she did not specify the rate. Hansen is aligned more closely with Oberweis on inversions, saying: "We need to lower their taxes so they don't want to go someplace else."

Source: Chicago Tribune on 2014 Illinois Senate debate Oct 13, 2014

Pat Quinn: Reduce LLC fee from $500 to $39, the lowest in the nation

Three out of every four Illinois employers are small businesses. And in the last five years, we've helped them. Through our Advantage Illinois program, we've provided loans and investments to help small businesses grow.

We should do more to support our small businesses, especially as they get started. In Illinois, new businesses have long paid a $500 LLC fee when they open up shop. Let's reduce this fee to $39--the lowest in the nation--and provide a boost to our innovators. This small but important step will encourage entrepreneurs to start their business and put more people to work.

And we won't stop there. Today I'm issuing an Executive Order to establish a Small Business Advocate whose sole focus will be to examine policies and proposals through the lens of how they impact Illinois small businesses. Let's make life easier for our small businesses--and make sure small business always means big business in Illinois.

Source: 2014 State of the State speech to Illinois legislature Jan 29, 2014

Pat Quinn: Advantage Illinois: microloans to MWOB minority firms

Business requires capital. Four years ago, capital was hard to find as all of Illinois suffered from the Great Recession. So we invested in our small businesses, providing $23 million in federal funding to scores of companies through Advantage Illinois. We've awarded micro-loans to hundreds of businesses, primarily to minority- and women-owned small businesses in high-need communities. In the past 4 years, we've increased the participation of minority- and women-owned firms in state contracts.
Source: 2013 State of the State speech to Illinois Legislature Feb 6, 2013

Alexi Giannoulias: Rein in financial institutions & stimulate small businesses

Despite talk of an economic recovery, more of our neighbors are losing their jobs & home foreclosures are increasing. The large banks that caused the near-collapse of the global financial system were bailed out by taxpayers and have used the money on bonuses for their executives. Meanwhile, America's small businesses have been unable to access the credit they need to invest and grow.
    Alexi's Future Works America agenda addresses four key goals:
  1. Put people back to work and stimulate the economy by cutting taxes for working Americans and small businesses, not wealthy corporations.
  2. Rein in unfair, deceptive and dangerous practices of corporations, financial institutions and mortgage brokers.
  3. Restore fiscal sanity to the US budget and begin closing the deficit, a tax on our children and grandchildren.
  4. Keep our children competitive in the global economy and help people move to more secure jobs by investing in education and access to universities and community colleges.
    Source: 2010 Senate campaign website, AlexiForIllinois.com, "Issues" Dec 25, 2009

    Alan Keyes: Protect workers’ pensions when companies declare bankruptcy

    Q: A Southern Illinois coal company filed bankruptcy and abandoned retired coal workers - would Keyes support federal legislation to protect retirees in this situation?

    A: Absolutely yes. I have heard about this and think it is totally unfair. Instead of putting workers, who have invested a good part of their lives in that work, at the end of the line they should be taken care of first. You have to make sure that they are an essential component and that the contribution they have made is respected.

    Source: Q&A with Southern Illinoisan reporter Sep 13, 2004

    Barack Obama: Tax incentives for corporate responsibility

      Obama’s “REAL USA” Corporations Plan (Responsible, Accountable, Loyal USA Corporations) will reward companies that create quality jobs in America with tax incentives. Companies will be required to:
    1. locate in the United States 90% of its production and employment for the sales of goods and services that are consumed here;
    2. invest at least 50% of its R&D budget here in the U.S;
    3. make sure their workers have access to affordable health care by providing a standardized and portable health insurance plan and pay at least 70% of the cost;
    4. make sure their workers have retirement security by contributing at least 5% of payroll to a portable, multi-employer pension fund and operating a profit-sharing plan for all full time employees; and
    5. limit management compensation to 50 times the lowest-paid full-time worker.
    Source: 2004 Senate campaign website, ObamaForIllinois.com Jun 25, 2004

    Barack Obama: Close tax loopholes for US companies relocating abroad

    Obama will change the tax code by closing loopholes that give companies incentives to move jobs abroad, including denying tax benefits to former American companies that reincorporate offshore to avoid paying taxes.
    Source: 2004 Senate campaign website, ObamaForIllinois.com Jun 25, 2004

    • The above quotations are from State of Illinois Politicians: Archives.
    • Click here for definitions & background information on Corporations.
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    Page last updated: Sep 07, 2016