Governor Signs Job Tax Credits for Small Businesses

Last week, Governor Quinn put pen to paper in signing legislation that will create the Small Business Job Creation Tax Credit.  The new program will provide a tax credit of $2,500 per new employee hired from July 1, 2010 through June 30, 2011for small businesses with fewer than fifty workers.  The new law stipulates that the new hires must be full time employees who work at least 35 hours per week and are paid $13.75 or more per hour.

There is $50 million in credits available to carry out the program for the coming year, which is estimated to create around 20,000 new jobs.  This is a good program and I think it is long overdue.  For to long, our state government has taken Illinois employers for granted, especially small business owners who are the engine of our economy.  Instead of rewarding those who took big chances investing their personal capital to pursue their dream of starting their own business and creating jobs for others, these leaders of our economy have been unfairly hampered by higher taxes and additional regulations.  It’s about time our state government start working for our residents to provide needed job incentives in our struggling economy. Continue reading »

General Assembly Back to Springfield for Home Stretch

The Illinois General Assembly reconvened in Springfield this week, with the scheduled adjournment date only four short weeks away.  There is a lot of unresolved business to cover over the next four weeks, with the state budget problems front and center.  It is far from clear what direction the Democrats who control the Governor’s office, House Speaker position and Senate Presidency plan to do.

Governor Quinn continues to push for any number of tax increase proposals, the Speaker has thus far refused Quinn’s call for tax increase legislation and the Senate President seems content in his passing of a tax hike last year.  What will be the end result is far from anybody’s guess, but the options being presented certainly don’t paint a pretty picture.

A Couple of Pieces of Legislation to Keep an Eye on

The national healthcare plan recently signed into law by President Obama would mandate every resident to maintain health insurance.  There have been a number of questions whether this mandate violates an individual’s constitutional right.  Quite a few states have filed lawsuits challenging this requirement and here in Illinois there has been legislation filed that would allow citizens to abstain from such a requirement.  House Bill 6842 states that no resident of the State of Illinois shall be required to obtain or maintain health insurance.  It is likely that this bill will never be called for a vote, but it is important to remember there are still those of us who believe that a personal choice should be just that, a personal choice and not infringe upon constitutionally obligated freedoms. Continue reading »

Part II–Does the State Really Spend Like it is Out of Cash?

I think we answered that question last week with examples of expensive office space that didn’t need to be rented and “emergency contracts” so state prisoners had their daily cookie.  But as I said last week and what I firmly believe is wrong with our entire budget dilemma is the mentality by those controlling the state that spending practices continue as if Illinois is awash in cash.  It’s this mentality that has created a multi-billion dollar deficit and it’s this mentality that will prevent us from digging ourselves out of debt and correcting the problems that have led to our financial meltdown.

Like I said, the cost-saving suggestions that we have provided to Governor Quinn are not going to fill our entire budget hole, but they will prove that the state is cutting nonessential costs and help to restore a semblance of trust in state government.  We are not going to see a windfall of ten billion dollars by enacting these proposals, but we will restore a theme of common-sense to state government that has obviously been lacking.  Common-sense financial decisions take place in every home, everyday.  We need that same type of mentality from our state leaders.  A family wouldn’t build a new swimming pool while they were struggling to make mortgage payments, and the state shouldn’t be providing cable television to inmates while we can’t even hire enough guards in our prisons. Continue reading »