Small businesses wouldn't benefit from tax cut -, NewsCenter17, StormCenter17, Central Illinois News-

Small businesses wouldn't benefit from tax cut


SPRINGFIELD, Ill. (AP) -- A spokeswoman says Illinois small businesses won't be affected by House Speaker Michael Madigan's proposal to cut the corporate income tax rate.


Kim Clarke Maisch (MYSH) is Illinois director of the National Federation of Independent Business. She says 75 percent of the state's business operations pay personal income taxes.


Madigan -- a Chicago Democrat -- proposed cutting the corporate rate from 7 percent to 3.5 percent immediately to improve the business climate.


Maisch says Thursday's proposal is a step in the right direction but "the real job-creators are small business owners." Lowering the personal tax rate would help them most.


A 2011 temporary hike in both personal and corporate rates is set to expire next January.

Most Popular

  • Current Events

Powered by WorldNow

904 South Side Drive
Decatur, IL 62521
Primary Phone: 217-424-2500
Primary Email:

All content © Copyright 2000 - 2014, WorldNow and WAND. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms