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 No deal: Illinois seeking truce over business poaching with tax breaks

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No deal: Illinois seeking truce over business poaching with tax breaks Vide
PostSubject: No deal: Illinois seeking truce over business poaching with tax breaks   No deal: Illinois seeking truce over business poaching with tax breaks Icon_minitimeWed Jan 29, 2020 10:44 pm
SPRINGFIELD — Illinois lawmakers want a truce with other states to stop the practice of poaching businesses with tax breaks.
State Rep. Bob Morgan, D-Deerfield, said economic incentives designed to attract businesses from other states or keep them in the state are a form of crony capitalism that doesn’t work.
“There’s little-to-no correlation between these tax credits and the growth of jobs in the state,” he said.
Morgan, along with state Sen. Ram Villivalam, D-Chicago, introduced legislation to create a compact among states so that member states won’t offer tax breaks to companies in exchange for corporate investment.

https://www.thetelegraph.com/news/article/Illinois-seeking-truce-over-business-poaching-15014307.php

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