Illinois economy is set to take a hit, according to the most recent state report on mass layoffs, and the Illinois Chamber of Commerce says there must be tax reforms, among other changes, to help stem the bleeding.
The latest Worker Adjustment and Retraining Notification, or WARN, Act report has a dozen businesses reporting more than 1,100 layoffs combined in the coming months. Illinois Chamber of Commerce CEO and President Todd Maisch (MY-shh) says every business has their reasons for shutting down, relocating or cutting their workforce, but there are things lawmakers can do to help small businesses out, like having pro-investment tax policies.
When asked about tax policy Wednesday, Speaker Michael Madigan said he’s hoping to reform taxes to bring about an extra tax on millionaires, but didn’t address any other possible tax reforms. Meanwhile, Maisch says there needs to be reforms to workers’ compensation to ensure only people hurt on the job get the benefit.
