Republican Economic Incentive Plan

PRESS RELEASE

FOR IMMEDIATE RELEASE Contact: Tim Stratton
Tuesday, March 18, 2008 tim@timforillinois.com


State Representative Candidate Announces Support for Economic Incentive Plan

Glencoe – Tim Stratton (R-Glencoe) announced his support today for House Minority Leader Tom Cross's (R-Oswego) economic incentive plan and urged the Democratic controlled Illinois House of Representatives to take quick action on the plan. The plan, introduced at a Friday press conference at the Illinois Employment Training Center in Champaign by State Rep. Chapin Rose, (R-Mahomet), and House Republican Leader Tom Cross, also aims at freezing property tax bills for some seniors, and increasing tax credits for businesses.
Stratton said the plan should generate about $10 billion in state money - matched by about $9 billion in federal money - for the building and upkeep of state roads and facilities.
"The State of Illinois has lost over 200,000 jobs in a short amount of time and this plan will allow us to take steps to stem the tide of failing businesses."
Stratton said the plan will contain a tax credit for businesses for job training and investments including research and development, as well as benefits tied to depreciation of assets.
The plan which is still being worked out will directly help those who need it, the middle-class, lower-income working people in the state because it will spur job growth and employment opportunities for those who desperately need work.
Stratton noted that House Republicans are pushing for the state getting a $10 billion capital building bond, which will contain a federal near-match of dollars. That money would go toward improvements in roads, K-12 schools, higher education and state facilities.
According to Stratton, "Congressman Mark Kirk has sent us a wake up call that Illinois risks losing vital Federal transportation money unless we can come up with our matching share. The impasse created by the Democratic controlled state government and my opponent illustrates a lack of understanding of sound fiscal practice. By leaving billions of dollars on the table they are not doing the taxpayers of the state any favors. It is time we put partisan politics aside and work together to move Illinois forward."

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