Time to hit reset for Illinois economy

While much has been written regarding Gov. Pat Quinn offering incentives to Sears and Motorola to entice them to stay in Illinois, there’s a better long-term solution to improve our business climate. As a legislature, we must create high quality jobs to make Illinois a “destination economy” again.

To address job creation, the Illinois Senate Republican Caucus unveiled a 30-point plan featuring proposals ranging from tax credits to reducing over-regulation and public pension reforms.

Caterpillar’s criticism of the state’s jobs climate helped shine a spotlight on the need for change to our workers’ compensation system. The first thing we should do is advance workers’ comp reforms so we’re not three times more expensive than neighboring states. I’m encouraged the governor has begun to consider workers’ comp reform, even if it is on the heels of major companies considering leaving Illinois. Illinois is blessed to have a diverse economy where one in four jobs are agriculture-based. We are fortunate to be America’s vital transportation hub. However, when I talk to leaders around the state, I hear time and again that high taxes and budget instability in Springfield are driving businesses away.

No state ever taxed its way into prosperity. For too long, government has taxed and regulated Illinois companies out of competition with businesses in neighboring states to the point where Illinois is near the bottom in the nation in job growth. It’s time for Springfield to step up to the plate, hit the reset button, and help Illinois compete again in the global marketplace.

As part of that reset, we must phase out Governor Quinn’s midnight income tax increase and start making cuts to our state budget to end the fiscal crisis and give the business community greater confidence in Illinois’ long-term solvency.

Kirk W. Dillard

Hinsdale

Illinois State Senator