Kirk Says Legislation Will Boost Illinois’ Business Climate
Illinois' junior U.S. Senator is worried about the state's business climate after state lawmakers approved increases in both corporate and income taxes.
In a visit to Champaign Friday, Mark Kirk touted his Small Business Bill of Rights. He says the legislation would help reverse the trend of other Governors trying to lure business away from Illinois.
The Senator says one portion of the measure would exempt small employers from federal taxes for 10 years if they commit to investing in vacant commercial property.
"Because nothing was happening there (vacant properties) anyway," Kirk said. "And we want to make central towns and cities exciting to invest in. Or for new innovators, a fast lane at the patent office. Because we know that small innovates 8-times faster per capita than big business."
The portion of Kirk's bill that expedites the federal patent approval process passed the Senate earlier this month. That provision assists business owners with patent filing issues.
Other parts of the legislation seek to lower business health care costs by allowing interstate competition for insurers, and to cut energy costs by promoting the use of hybrid vehicles and more efficient practices.