According to State Sen. Bill Brady, House and Senate Republicans came together during the week to introduce a comprehensive legislative package to jump start Illinois’ economy and create jobs to put Illinoisans back to work.
Noting that last week Democrats proposed three different tax increases as a way to generate new revenues for the state, GOP lawmakers pointed out that these proposals do nothing to help the nearly 570,000 individuals collecting unemployment in Illinois to find jobs. In response, Republicans sought input from business leaders with the goal of encouraging business development and job growth in Illinois at very little cost to taxpayers.
The lawmakers said Illinois needs to steer clear of tax hikes and focus on policies that will stimulate economic development, encouraging revenue growth through the creation of jobs. They also noted that a key component of the jobs plan would be to establish primary causation for workers’ compensation to lower costs and make Illinois’ employers more competitive with neighboring states.
Other provisions of the Illinois House and Senate Republicans Jobs Plan include:
· Making the Research and development tax credit permanent.
· Authorize DCEO to establish 50 new Enterprise Zones.
- Reduce the cost of setting up an LLC in Illinois from $750 (currently) to $39. (This proposal was approved in the Senate and is now before the House.)
- Expand the reach of science, technology, engineering, and math education opportunities in Illinois by creating STEM academies within the confines of local schools.