SR1461 99TH GENERAL ASSEMBLY

SR1461 LRB099 16081 MST 40405 r

SENATE RESOLUTION

WHEREAS, Twenty years ago, a Federal Reserve Bank of Minneapolis study proposed a way to end the ongoing battle for new jobs and companies that relies heavily on tax incentives and subsidies; and

WHEREAS, An act of the federal government is the only way to end the use of tax subsidies and incentives as an economic development tool; and

WHEREAS, Providing these tax incentives and subsidies to private companies is a waste of public dollars; one local community or state gains jobs at the expense of another; those public dollars would be better spent on core services such as education and infrastructure; and

WHEREAS, U.S. states will not end the bidding war on their own and congressional action is needed; therefore, be it

RESOLVED, BY THE SENATE OF THE NINETY-NINTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we urge Congress to pass legislation that will end the economic war between the states that is based on attracting new jobs and companies with offers of tax incentives and subsidies; and be it further

RESOLVED, That we urge the Illinois Congressional Delegation to introduce legislation that will help facilitate this cause; and be it further

RESOLVED, That suitable copies of this legislation be delivered to the Speaker of the U.S. House of Representatives, the U.S. Senate President, and all members of the Illinois Congressional Delegation.