Local chambers of commerce leaders don’t know what it takes for Illinois to come up with a budget plan, but they agree it needs to happen soon.
“Springfield must begin to operate within its means,” Joseph Henning, president and CEO of the Aurora Regional Chamber of Commerce, told the DuPage Policy Journal. “Illinois’ businesses and households have been forced to do that for years. Identify the revenue, and create the budget around that. Without reforms in spending, we continue the tax-and-spend model of government. Increasing taxes and fees is not the solution for long-term stability. Increased taxation is not the answer.”
Colin Dalough, director of government affairs and business development for the Naperville Area Chamber of Commerce, agreed.
Illinois State House Speaker Michael Madigan (D-Chicago)
“What we do need in the state, though, is some certainty and a full and balanced budget,” Dalough told the Journal. “We are now entering our third year with no budget, and it has created a situation that is not good for business growth. And we see that. The credit ratings continue to downgrade in Illinois. We need a budget in Illinois.”
One proposal that has garnered perhaps the most attention is Senate Bill 9, which would generate $5 billion in new revenues by increasing personal and corporate income taxes, among others actions.
Henning said the Aurora Chamber does not see the measure as a solution.
“We understand ... the need for increased revenues,” he said. “However, we believe it continues to punish Illinois residents and employers for the financial mess caused from years of overspending. It is not a fair request.”
SB9 is also a point of contention for Dalough.
“The reality is that the solution to this problem isn’t simply raising taxes on the job growers in our state, the economy growers in our state,” Dalough said. “We need to have growth.”
SB9, which passed the Senate, will be considered in the House during the current continuing session, according to House Speaker Michael Madigan (D-Chicago).
The Aurora Regional Hispanic Chamber of Commerce and the Western DuPage Chamber of Commerce did not return requests for comment.
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