Illinois House Republican leader Tom Cross said Wednesday that he’d try to cut back the state’s recent corporate income tax hike, but
But Democratic Senate President
Cross’ comments came at a speech to the
They included lowering the fee for incorporating a new business from $750 to $100, extending existing enterprise zones, making permanent the research and development tax credit, raising the ceiling on estate tax liability and allowing firms to carry losses into later tax years.
But Cross did not mention his proposed repeal of January's corporate income tax increase, which was largely pushed through by Democrats.
“We’d go further if we were in charge,” Cross later told reporters of
But Cullerton has spoken on several occasions of lowering the corporate income tax rate in exchange for eliminating tax loopholes in a revenue-neutral fashion, said John Patterson, a Cullerton spokesman.
In 2009, Patterson noted, Senate Democrats approved a measure hiking the state's income-tax rates for individuals and businesses, but only boosted the corporate rate from 4.8 percent to 5 percent in exchange for broadening the state's sales tax to include services.
Cross said reducing spending and looking for efficiencies should be discussed instead of any concept such as broadening the sales tax, even if it could be used to reduce the corporate income-tax rate.
Cross and Sen.