Tax-break transparency bill sent to Gov. Quinn

SPRINGFIELD, Ill. (AP) -- Before they left Springfield last week lawmakers sent Gov. Pat Quinn a bill that would require Illinois to publicly reveal the details of corporate tax breaks as soon as the deals are complete.

But Rep. Jack Franks says he had to cut a provision that would have created a committee to review so-called EDGE tax credits. Those are credits the state provides companies threatening to leave the state.

A spokeswoman for Quinn says the governor hasn't decided whether to sign the bill.

Franks believes Quinn opposes more oversight of the tax breaks that he often trumpets as economic tools.

Illinois has more than quadrupled its corporate tax breaks since 2006 to more than $270 million in 2010. The state often gets poor marks for its oversight of those tax breaks.

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  • by Douglas Location: Northern IL on Jun 4, 2012 at 03:16 PM
    I think that this is a good thing but it will never happen, because our lawmakers would be telling how much the big Company are not paying their FAIR of the taxes which is normal. That is what they are finding out in Wisconsin, aren't they with Walker.
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