Digital Access

Digital Access
Access daily-chronicle.com from all your digital devices and receive breaking news and updates from around the area.

Home Delivery

Home Delivery
Local news, prep sports, Chicago sports, local and regional entertainment, business, home and lifestyle, food, classified and more!

Text Alerts

Text Alerts
Choose your news! Select the text alerts you want to receive: breaking news, prep sports scores, school closings, weather, and more.

Email Newsletters

Email Newsletters
We'll deliver news & updates to your inbox. Sign up for free e-newsletters today.
State

Small businesses wouldn't benefit from tax cut


RXML parse error: Attribute 'src' cannot be empty
 | <emit format="jpeg" jpeg-quality="1" nodata="1" source="cimg" src="">
 | <cache minutes="5" variable="var.picture-src">
 | <trimlines>
 | <cache enable-protocol-cache="yes">

RXML parse error: Error in expr attribute: syntax error, unexpected '*'
 | <set expr="floor( * 540)" variable="var.adjustedW">
 | <cache minutes="5" variable="var.picture-src">
 | <trimlines>
 | <cache enable-protocol-cache="yes">

SPRINGFIELD — A spokeswoman says Illinois small businesses won't be affected by House Speaker Michael Madigan's proposal to cut the corporate income tax rate.

Kim Clarke Maisch is Illinois director of the National Federation of Independent Business. She says 75 percent of the state's business operations pay personal income taxes.

Madigan — a Chicago Democrat — proposed cutting the corporate rate from 7 percent to 3.5 percent immediately to improve the business climate.

Maisch says Thursday's proposal is a step in the right direction but "the real job-creators are small business owners." Lowering the personal tax rate would help them most.

A 2011 temporary hike in both personal and corporate rates is set to expire next January.

Loading more