Budget Address: Close Corporate Tax Loopholes

In his budget address today, Governor Pat Quinn called for closing corporate tax loopholes, saying ‘For too long, we’ve had a revenue code that looks like Swiss cheese, with plenty of loopholes for the powerful." With tough budget decisions facing the State, closing tax loopholes that serve no public purpose, is the right thing to do...

In his budget address today, Governor Pat Quinn called for closing corporate tax loopholes, saying ‘For too long, we’ve had a revenue code that looks like Swiss cheese, with plenty of loopholes for the powerful.’

With tough budget decisions facing the State, closing tax loopholes that serve no public purpose, is the right thing to do. A corporation that benefits from our roads, educated workforce, and security and makes profits in Illinois should—like all of us who earn income here—pay the taxes it owes. But when corporations take advantage of loopholes in our tax code to avoid paying state and federal taxes, the rest of us are forced to shoulder the extra burden through higher taxes, fewer services, or a larger share of the debt.

The General Assembly should stand up for Illinois taxpayers by not only closing tax loopholes, but ensuring accountability and transparency in the economic development subsides the State provides. We can’t afford these special interest giveaways anymore.

 

Authors

Celeste Meiffren-Swango

State Director, Environment Oregon

As director of Environment Oregon, Celeste develops and runs campaigns to win real results for Oregon's environment. She has worked on issues ranging from preventing plastic pollution, stopping global warming, defending clean water, and protecting our beautiful places. Celeste's organizing has helped to reduce kids' exposure to lead in drinking water at childcare facilities in Oregon, encourage transportation electrification, ban single-use plastic grocery bags, defend our bedrock environmental laws and more. She is also the author of the children's book, Myrtle the Turtle, empowering kids to prevent plastic pollution. Celeste lives in Portland, Ore., with her husband and two daughters, where they frequently enjoy the bounty of Oregon's natural beauty.