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Thu April 4, 2013
Child Advocacy Groups Support Quinn's Loophole Plan
Several child advocacy groups say they support Gov. Pat Quinn's plan to end so-called corporate tax loopholes. They say the money saved would help pay Illinois' massive backlog of unpaid bills.
The Illinois Senate Revenue Committee took testimony Wednesday on a proposal to end three tax breaks, including not taxing foreign dividends of multinational corporations. Quinn outlined the idea in his March budget address. His office estimates the move will bring in about $450 million annually that would go toward paying down bills.
Kate Armstrong is the chair of the nonprofit group, Through a Child's Eyes, which relies on state funding. She supports the plan because it means timely payments. Meanwhile, business and tax groups oppose the measure because it could hamper job creation.