Tom Cullerton works to eliminate Franchise Tax

VILLA PARK – Over the next five years, businesses will gradually cease to pay the archaic franchise tax under legislation championed by State Senator Tom Cullerton (D-Villa Park).

“As a state it is our duty to adopt policies that encourage economic growth and development,” Cullerton said. “The elimination of this convoluted tax will encourage business owners to expand and grow in our communities.”

Created in 1872, the corporate franchise tax is a tax on “paid in capital” for the privilege of doing business in Illinois. Last year, 346,000 companies paid about $172 million in taxes. After Illinois’ franchise tax is eliminated, only seven states in the nation will still impose a similar tax.

“Taxing businesses sends the wrong message,” Cullerton said. “Business owners should not be penalized for doing businesses in Illinois.”

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Morrison announces $61 million for overhaul of Lake Bluff interchange

LAKE BLUFF - A long-planned upgrade to the interchange at Illinois Route 176 and U.S. Route 41 in Lake Bluff is closer to completion after State Senator Julie Morrison (D-Deerfield) announced today that $61 million for the project has been secured in the recently signed Rebuild Illinois capital construction plan.

"For years, commuters on this highly traveled stretch of roadway have faced delays and safety hazards," Morrison said. "Working with local officials, it was clear this project would greatly enhance travel safety in the area and I am proud to have fought for its inclusion in the Rebuild Illinois program."

Included in the more than $40 billion infrastructure plan investing in roads, bridges and mass transit is $61 million for a complete overhaul of the Lake Bluff interchange. The project will improve safety for motorists, bicyclists, and pedestrians and support future growth at the gateway to Lake Bluff through access and drainage improvements.

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Bennett applauds funding for building safety, educational programs at University of Illinois

CHAMPAIGN – State Senator Scott Bennett (D-Champaign) joined Governor JB Pritzker at the University of Illinois’ Urbana campus today to talk about the urgently needed improvements to facilities the governor recently signed into law.

Dubbed “Rebuild Illinois,” the capital construction plan invests $2.9 billion to support Illinois’ nine universities and 50 community colleges, in addition to the Illinois Mathematics and Science Academy.

“A lack of investment and a two-year budget impasse were devastating to our public university and community college system in Illinois,” Bennett said, who sits on the Senate Higher Education Committee. “I’m glad to see that Gov. Pritzker is committed to making the University of Illinois and our state leaders in higher education.”

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