Wednesday, February 22, 2012 at 1:21PM Gov. Quinn 2012 Budget Background - At noon today, Governor Patrick Quinn provided his fourth annual Budget Address since taking office in January 2009 following the impeachment of former Governor Rod Blagojevich. Under the Illinois Constitution, the Governor is required to annually prepare and submit a balanced budget to the General Assembly.
Friday, February 17, 2012 at 4:25PM IMA Poised to Advance Manufacturing Renaissance - In 2011, for the first time since 1998, Illinois actually experienced a net gain in manufacturing jobs. While the 20,000 new jobs is a relatively small number, there is growing optimism in the industrial sector and Illinois needs to be positioned to take advantage of the manufacturing renaissance.
Thursday, February 9, 2012 at 4:55PM Governor Quinn Previews Budget Message - With less than two weeks remaining before Governor Quinn unveils his budget that will set the tone for debate the remainder of session, a few details are starting to emerge including the closure of “tax loopholes.” With state debt exceeding $8.5 billion that includes payments owed to vendors, delayed corporate tax refunds, and deferred Medicaid payments, the 2012 Budget Address will be one of the most important speeches of the Governor’s tenure.
Friday, February 3, 2012 at 9:47AM Quinn Gives State of the State Address - During his annual State of the State message to a joint session of the General Assembly this week, Governor Patrick Quinn outlined his plans for a 2012 Jobs Agenda while pledging to address the state’s massive pension debt and unbalanced budget during his Budget Address later this month. While the State of the State message allows the Governor to provide broad themes and highlight successes in office, specific details and the real work begins after the state’s spending plan is unveiled on February 20.
Friday, January 6, 2012 at 2:13PM In the course of the past month, the Obama Administration has announced a broadside against manufacturers and the employer community using the National Labor Relations Board. After three years of failing to convince Congress to pass the Employee Free Choice Act, the crown jewel of organized labor, the hand-pointed political nominees on NLRB circumvented Congress and passed rules allowing “ambush elections” and requiring employers to hang posters informing employees of their rights to unionize and strike. Finally, late this week, President Obama used recess appointment powers to appoint three new members to the NLRB despite the fact that Congress is not officially in a “recess.”
Friday, December 16, 2011 at 11:44AM After several weeks of negotiation, the General Assembly passed a $340 million tax relief package with strong bipartisan support in both the House of Representatives and Senate. Supported by the Illinois Manufacturers? Association, the final agreement included two provisions sought by the IMA including an extension of the Research & Development tax credit and partial reinstatement of the Net Operating Loss deduction. Governor Quinn is signing the package (SB 397, SB 400) into law today.
Tuesday, December 13, 2011 at 2:28PM General Assembly Passes Tax Package … A short while ago, the Senate followed yesterday’s bipartisan vote in the Illinois House of Representatives and passed a $340 million tax relief package supported by the Illinois Manufacturers’ Association. The final agreement included two provisions sought by the IMA including an extension of the Research & Development tax credit and partial reinstatement of the Net Operating Loss deduction. Governor Quinn has pledged to sign the measure into law.
Friday, December 9, 2011 at 4:12PM After weeks of discussion and negotiation, House Revenue Chairman John Bradley and Republican Minority Leader Tom Cross reached consensus on a $344 million tax relief package that should pass the General Assembly early next week and be signed into law by Governor Quinn. Two proposals pushed by the IMA, including an extension of the Research & Development tax credit and reinstatement of the Net Operating Loss provision are included in the final language contained in SB 397. This final agreement is very similar to the measure (HB 1883) that passed the Senate last week but stalled in the House as the IMA previously reported.
Wednesday, November 30, 2011 at 8:41AM Tax Package Defeated in House - After weeks of negotiation, a $250 million tax relief package passed the Senate with bipartisan support before being soundly defeated in the House of Representatives among questions regarding specific tax breaks for the Chicago Mercantile Exchange. The defeat of HB 1883, sponsored by the respective chairs of the House and Senate Revenue Committees, raises doubt about when an extension of the Research & Development tax credit and partial reinstatement of the Net Operating Loss provision could occur. Both items were contained in the package at the urging of the Illinois Manufacturers’ Association.
Wednesday, November 23, 2011 at 3:51PM Tentative Framework Reached on Tax Package - Earlier today, the Governor and four legislative leaders reached an agreement on a tax package that includes two items sought by the Illinois Manufacturers’ Association; an extension of the Research & Development tax credit and a reinstatement of the Net Operating Loss provision. An amendment containing the agreement will be heard in the House Revenue Committee on Monday, November 28 and final passage in both the House and Senate could follow on Tuesday when the General Assembly reconvenes for the extra day of veto session.