Illinois Chamber applauds Gov. Pritzker for standing up for Illinois against corruption with energy proposal
"We applaud Gov. Pritzker for standing up for Illinois against corruption with this thoughtful, serious energy plan," said Illinois Chamber of Commerce President and CEO Todd Maisch.
"By ruling out another Exelon bailout, the governor has saved ratepayers in Illinois, including residential customers and small businesses, an estimated $414 million."
"A well-crafted plan made up of diverse and reliable sources of energy that considers both environmental, and ratepayer needs is critical to Illinois' economic future. The Chamber has long supported these goals and worked with Illinois Senate President Pro Tempore Bill Cunningham to propose a balanced approach to these issues, that prioritizes the needs of energy consumers and provides thousands of jobs for Illinois workers.
"We appreciate the Governor's Office's thorough review of Illinois energy policies and are energized to see some of these initiatives included in their initial plan. We look forward to working with him, Sen. Cunningham and other legislators, staff and stakeholders to continue to develop balanced energy polices for Illinois."
13 Organizations Join Illinois Chambers' Vote No Coalition, Including Illinois' Black and Hispanic Chambers of Commerce
The Vote No on the Progressive Tax coalition announced this week that thirteen organizations have joined the coalition to defeat the progressive tax, including Illinois' leading minority business groups, the Illinois State Black Chamber of Commerce, and the Illinois Hispanic Chamber of Commerce.
Illinois State Black Chamber of Commerce President Larry D. Ivory said, "We all know that taxes influence how businesses operate. With the proposed progressive tax, business sectors that largely employ women and minorities would be hit the hardest, and jobs will be eliminated. Illinois already has the fifth-highest corporate income tax rate in the country. Why would we want to jump up to the second-highest rate in the country? Taxes are the number one issue that works against us in trying to recruit businesses and entrepreneurs in our state. Most of our businesses are already hurting because of COVID-19, especially in the Black community. To disproportionately attack the sectors that provide so many jobs to our state with a tax hike is unfair and cruel to the hard-working men and women in these industries who need these jobs."
Illinois Hispanic Chamber of Commerce President Jaime di Paulo remarked, "The progressive tax is a direct threat to our mission and our members because it will hurt small business owners, manufacturers, and family farmers. By raising taxes on these job creators, the progressive tax will take more money from these hard-working families and penalize them for their success. The impact on the Illinois economy would be devastating, resulting in businesses closing or relocating to other states, family farms going bankrupt, and workers losing their jobs. Why are Illinois politicians dead set on raising taxes during a pandemic which has already caused sky-high unemployment, especially in the Hispanic community?"
The following thirteen organizations have joined the Vote No on the Progressive Tax Coalition. Each are dedicated to organizing their memberships to fight back against this latest attempt by Springfield politicians to hike taxes on small employers and destroy jobs.
- Associated Builders & Contractors-Illinois
- Auto Parts and Service Association of Illinois
- Bolingbrook Area Chamber of Commerce
- Greater Oak Brook Chamber of Commerce
- Home Builders Association of Illinois
- Illinois Business Alliance
- Illinois Hispanic Chamber of Commerce
- Illinois State Black Chamber of Commerce
- Mid-West Truckers Association
- Midwest-South Eastern Equipment Dealers Association
- Naperville Area Chamber of Commerce
- Quincy Chamber of Commerce
- Southwestern Illinois Employers Association
Chamber Member Inland Real Estate Group Featured in 1031 Exchange Article
Also known as a "like-kind" exchange and deriving its official name from Internal Revenue Code Section 1031, the rule allows taxpayers to defer capital gains payment and recapture taxes on the sale of property by reinvesting in a new building.
While he appreciates the effort to revitalize this sector of the economy, Dan Wagner doesn't think targeting real estate investors is the right way to fund it. "While the intentions behind the plan are admirable, the means through which his campaign intends to finance this initiative are grossly misguided and need to be reconsidered," the senior vice president of government relations at The Inland Real Estate Group LLC said in a statement. He added that the move "would be devastating to our economy and would ultimately hurt the very people he is trying to help."
Illinois Chamber Annual Meeting Sponsorship
The Illinois Chamber's Annual Meeting set for September 24th from 11:00 am to 1:00 pm central time will be virtual this year. The agenda includes an hour devoted to an "All Council Networking Time" and a discussion of Economic Development in Distressed Communities" featuring Charles Evans, President of the Federal Reserve Bank of Chicago, and Timothy Crane, president of Wintrust Financial Corp. Susana Meza, Vice-President of Community Affairs of Wintrust will be the program's moderator.
Bronze Sponsor - $2500
* Fifteen virtual seats for your company at the Annual Meeting
* Acknowledgement on signage, website, and invite for the event
* ¼ page ad in the Illinois Business Leader September issue
* Add promotional materials on digital platform available for one year online
Partner Sponsor - $1500
* Ten virtual seats for your company at the Annual Meeting
* Listing in Event program and conference banners