Legislative Update: Progress on Grand Bargain

Date: February 24, 2017

This week, the state Senate voted on a handful of the less-controversial measures that are part of the “Grand Bargain,” a package of bills concocted to finally break the on-going budget impasse.

However, talks stalled when Governor Rauner entered the negotiations and made it clear that he would not agree to any new taxes without an accompanying property tax freeze, state spending reductions, and substantial reforms to workers’ compensation to help the business community.

NFIB informed senators we would be key-voting SB 2, which would raise the state minimum wage to $11 an hour, and SB 9, which would create a new excise tax on certain service industries. Key votes are monitored by NFIB, and the results are reported to our members at the end of session. Ultimately, however, neither bill was called for a vote.

The “Grand Bargain” include tax increases, public pension reform, workers’ compensation reform, property tax freeze, minimum wage increase, and school funding reform. NFIB opposes new taxes on small business.

NFIB State Director Mark Grant said, “It’s our estimation that combination of income tax increases, along with newly proposed taxes in services cannot be off-set with the proposed modest reforms to workers’ compensation, vague property tax relief, and significant budget cuts. And though Illinois must have a stable and balanced budget NFIB will not support the Grand Bargain as it puts the financial burden on small businesses and their employees.”

 

Related Content: Small Business News | Economy | Illinois | Labor | Taxes

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