WGIL News Audio: 7am News, Sports and Obits click HERE | For the latest WGIL news click HERE

Rauner Proposes Ending “Corporate Tax Welfare”

WGIL Newsroom . State News 172

RaunerCHICAGO (AP) — Republican candidate for governor Bruce Rauner says Illinois should end certain corporate tax breaks he says are unfair to working families.

The wealthy Winnetka businessman released his plan for “corporate welfare reform” on Wednesday.

It calls for capping a program that provides tax credits for companies to keep jobs in Illinois. Some of those credits — including one for Sears Holding Corp. — allowed companies to later lay off workers.

Rauner also says Illinois should end tax breaks for the oil industry and a sales tax exemption for newsprint and ink, among others.

Democratic Gov. Pat Quinn has proposed eliminating some of the same “loopholes,” but the Legislature hasn’t acted.

Quinn also has defended the Sears deal, saying Illinois would have seen greater job losses without it.

All AP stories are Copyright 2014 by The Associated Press. All Rights Reserved.

The following provision applies to all visitors (which shall include persons and representatives of legal entities, whether such representatives are persons or digital engines of a kind that crawls, indexes, scrapes, copies, stores or transmits digital content). By accessing this Web site or digital service, you specifically acknowledge and agree that: (i) Associated Press text, photo, graphic, audio and/or video material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium; (ii) No Associated Press materials nor any portion thereof may be stored in a computer except for personal and non-commercial use; (iii) The Associated Press will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing; (iv) The Associated Press is an intended third party beneficiary of these terms and conditions and it may exercise all rights and remedies available to it; and (v) The Associated Press reserves the right to audit possible unauthorized commercial use of AP materials or any portion thereof at any time.

Follow us on Twitter