State Rep. Jack Franks introduced a massive tax hike bill Friday.
Its number is House Bill 4300.
Here is how the Legislative Digest describes it:
BIMP-REVENUE
whatever that means.
Here’s what the Illinois Manufacturers Association says it does:
Note that Franks proposes to eliminate the Enterprise Zone economic development tool which the McHenry County Board just approved for Harvard and Woodstock, an area entirely within his legislative district.
The Harvard-Woodstock Enterprise Zone looks like a gerrymandered legislative district.
The IMA has prepared the following ad:
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From a comment on Capitol Fax:
===If so, that’s the same guy who voted for each and every DCEO Edge grant, special Edge grant, corporate give-away and the like since his arrival in Springfield.===
Please cite each bill, roll call, and the General Assembly these bills and roll calls occurred.
The answer from another commenter follows:
- 2009- HB1526- Special Edge Credit to Chrysler/Ford/Mitsubishi -Franks voted yes
- 2010- SB3089- Special Edge Navistar- Franks voted yes; SB3655 IL R & D income tax extension- Franks voted yes
- 2011-SB4- Special Edge- Continental Tire/Motorala; SB397- Sears tax credit Franks voted yes on both
- 2012- SB3616 68 enterprise zones created Franks voted yes
- 2014- SB3010 Extend Manufacturers Purchase Credit; Franks voted yes
- AND… HB390 BILL TO CLOSE SO-CALLED LOOP-HOLES … FRANKS, NO!!
Anyone want to speculate how many Republicans will still vote for Jack?
Love the picture of Jack holding the microphone!
I wonder if this bill will ever see the floor of the House since Jack did not vote for the Madigan interim funding bill.
As Woodstock d200 school taxes rate approaches 3% of total home value (9% of EAV), enterprise zones and tifs put the nail in the coffin for homeowning taxpayers.
(Adding in county and municipal taxes, tax rate in Woodstock will be over 5% of total home value next year.).
Tifs and enterprise zones ensure that school district can receive little commercial property tax.
Tif s and enterprise zones redirect property taxes through the unmonitored process of distribution to developers at the discretion of politicians.
The sole burden of school property tax is placed on a shrinking tax base, as homeowners are unable to afford tax rates triple the national average.
Investors purchasing foreclosed homes for rental property aggressively pursue lowered assessments and have anti-incentive for property improvement or repairs.
Rents are irrationally high in Woodstock as property tax rates are factored into overhead cost of ownership.
Social service provision is the largest source of employment (schools and government jobs exceed the next largest employer, Centegra, a non-tax paying ‘non profit’ designated entity).
Where is all the tax money going?
Much can be traced to Salary and benefit payments for more school administrators than Huntley d158 (with a student population 143% of d200), and ops&maintenance expenses on two schools running far below enrollment capacity.( 25%-58%).
Conclusion: while agreeing with the abolition of enterprise zones, tifs are the real culprits, and tifs are where the big money lies.
This focus on enterprise zonesmay be creating an appearance of tackling a problem while tifs are assiduously ignored.
Finally, without illuminating the reasons for tax hikes– to pay third party administrators, people who have discovered there is bigger money and less risk in selling the promise of the future performance of other people than in the performance of those promised tasks–the Bill just evokes disgust and despair in Illinoisans hoping for relief.
Sooner or later we’re going to have to pay for the States financial mess and getting rid of deductions and hand outs is a good start.
Flat tax no deductions may be the right course, maybe not Jack’so way,though.
BIMP – Budget IMPlementation act.
Basically the unions that helped bankroll Franks’ election don’t want their legislative pension and retiree healthcare benefit hikes clawed back, don’t want the current benefit hikes clawed back, and don’t want their hiked pensions capped.
So they encourage Franks to go after so called corporate tax perks and loopholes, which amount to about $1 Billion.
In that $1 Billion we can probably find some realistic legitimate cuts.
But pensions drawf that $1 Billion.
The main problem is pensions.
So if Franks is serious about reducing taxes, he will go after pensions and retiree healthcare, not just corporate perks.
Focus on the main problem.
Sounds like Franks never found a tax he didn’t like – for others to pay.
Here’s a thought = a tax on TAX.
A tax on politicians who seem to live outside of regular folks reality.
How many millions could be saved if politicians stopped using unions to back their elections aka – let those folks pay for their own medical and pensions.
The public cupboard is empty.
We can’t afford Franks but people elect him because he smiles nice and SEEMS warm and fuzzy.
Maybe the American people ARE stupid as the govt. guy said about how Obamacare was sold to us.
Illinois already has a tax on a tax.
It’s the sales tax on Motor Fuel Tax at the gas pump.
Has he shared any specific thoughts on what services/spending he would propose to be cut?
http://chicago.suntimes.com/opinion/7/71/990747/carol-marin-springfield-mushrooms-rise-cellars
When corporations don’t pay their fair share of taxes you pay it and the middle class cannot afford anymore tax raises.
2/3 of Illinois corporations pay no Federal or State taxes. We pay for their infrastructure, for corporations to be protected by our military overseas, etc.
When we give tax breaks like to Sears or Walmart or Motorola they end of leaving Illinois or moving from town to town to game the local tax breaks.
Under Re publican president Eisenhower corporations paid 90% in taxes but ceo’s were paid in money.
Since Reagan’s time the ceo’s are paid with stock options leaving them want to make the stock rise rather than taking care of business.
They do this by outsourcing jobs, laying workers off, and closing businesses.
They also hide their profits in offshore accounts and even when Bush gave them a low tax to bring a small amount ofmoney back to the USA they did not use it for American jobs or development.
Right now companies get a tax break for moving overseas. Democrats in this congress have proposed taking that away and giving tax breaks that make jobs here but Republicans blocked it.
Corporate tax breaks cost Illinois taxpayers over $1.15 billion per year.
Where are all the stores and jobs lately? It doesn’t work.
If you want to keep paying more taxes protect the big businesses from paying their fair share.
Most corporations pay 0 taxes, some get money back from Uncle Sam, and a few pay a lot less than a person making $30-40 thousand per year.
It is us paying for everything or all of us paying.
Take your pick.
http://www.chicagobusiness.com/article/20140205/NEWS02/140209918/more-than-a-billion-reasons-to-debate-illinois-corporate-tax-breaks
Once again Jack is Madigan’s tool.
When Madigan feels he needs to do a little fundraising he has one of his little minions sponsor a piece of legislation threatening an industry or interest with some money to spend.
This is a weapon of mass distraction used to fund raise.
Madigan is still the brilliant master and Jack is still his tool.
It’s difficult to fund raise effectively, however, when the industries threatened realized long ago Illinois is corrupt and broken so they simply move their tax liabilities elsewhere.
Major national and international companies are lowering their exposure to Illinois’ liabilities while small business people are starting their corporations in other states more friendly to business.
Jack is a sad little controlled person.
It would be interesting to see, in an alternate universe, what he could have been were he not controlled by his father and a powerful father figure he debases himself regularly to follow.