Business & Economy
Grassley Urges President to Reconsider Definition of Tax Reform PDF Print E-mail
News Releases - Business & Economy
Written by Grassley Press   
Monday, 15 August 2011 12:33

WASHINGTON – Sen. Chuck Grassley of Iowa today urged President Obama to adopt a definition of tax reform that would make U.S. employers more competitive worldwide and encourage job creation in the United States rather than impose scattershot tax increases that do not constitute reform and do not promote economic growth.  

“Tax reform in a global economy is a serious task,” Grassley wrote in a letter to the President.  “There are complex issues to be considered.  These include a comparison of the rates and incentives provided by the countries we are competing with for jobs.  A serious task needs serious leadership.  Demagoguery of tax incentives may provide good political sport but it does not provide the strong leadership needed for the serious task of reforming the tax code to secure America’s competitiveness in the global economy.”  

Grassley noted that the President and others define “tax reform” as closing “tax loopholes” and the President said tax reform should “ask those who can afford it to pay their fair share.”  Grassley said tax reform in the sense of creating jobs involves simplification and making U.S. businesses more competitive with their counterparts worldwide.  

Grassley urged the President to “… take responsibility for the tone and tenor of the tax reform debate you are setting.”  Grassley wrote, “With unemployment and growth rates where they are, the country cannot afford the kind of ‘tax reform’ you are promoting.”  

Grassley is former chairman and ranking member and currently a senior member of the Finance Committee, which has exclusive Senate jurisdiction over taxes and has been holding hearings on tax reform.  

The text of Grassley’s letter to the President is available here.  

 

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Governor Quinn Signs Legislation to Boost Economic Development in Quad Cities PDF Print E-mail
News Releases - Business & Economy
Written by Katelyn Tye   
Tuesday, 09 August 2011 12:26

Announces Support for Northwest Illinois Company to Expand, Creating and Retaining Nearly 100 Jobs

CHICAGO – August 8, 2011. Governor Pat Quinn today signed legislation to expand the Quad Cities Regional Economic Development Authority, which will encourage greater economic development in Northwest Illinois. The Governor’s signature comes as Tennant Truck Lines, Inc. announces an expansion that will create and retain close to 100 jobs. The new law reflects Governor Quinn’s aggressive business agenda that is creating jobs in every region of the state and growing the economy.

“Powerful economic tools like this new law demonstrate our commitment to creating jobs and making Illinois even more competitive in the global economy,” said Governor Quinn. “This legislation helps local governments in Northwest Illinois to attract and develop businesses in the region, growing the economy.”

Senate Bill 1755, sponsored by Sen. Mike Jacobs (D-Moline) and Rep. Patrick Verschoore (D-Rock Island), amends the Quad Cities Regional Economic Development Authority Act by expanding the geographic area of the authority. The authority currently includes Rock Island, Henry, Knox and Mercer counties. The new area will also include Jo Daviess, Carroll, Whiteside, Stephenson and Lee counties. Senate Bill 1755 also expands the governing board of the authority from 11 to 16 by adding a member from each of the five additional counties. New members will be appointed by each of their respective county board chairs.

Illinois law gives regional economic development authorities power to issue bonds on behalf of a company to help facilitate economic development. The Quad Cities Regional Economic Development Authority focuses its development in three main project areas: manufacturing, not-for-profit and senior housing.

Governor Quinn’s signature comes as Tennant Truck Lines, Inc., a family-owned and operated transportation and logistics company located in the Quad Cities, plans to invest $3 million to merge their headquarters and logistics operations into one facility in Colona, creating 30 new jobs and retaining 65 full-time jobs. The new site will allow the company to keep existing functions in Illinois and provide room for expansion of both headquarter and logistics functions. The state will provide a more than $1 million business investment package in the form of job creation tax credits spread out over 10 years and an employer training grant to leverage the private investment.

Governor Quinn’s aggressive business agenda is creating jobs, growing the economy and encouraging economic development in every region of the state. In June, Governor Quinn awarded more than $10.4 million through the “IKE” Disaster Recovery Program to communities throughout Northwest Illinois to assist with water and sewer improvements and other critical public infrastructure needs. Through the state’s economic development agency, Illinois has a wide range of programs and services available to help businesses of all sizes remain competitive.

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Governor Quinn Signs Bill to Boost Small Businesses Owned by Illinois Veterans PDF Print E-mail
News Releases - Business & Economy
Written by Katelyn Tye   
Tuesday, 09 August 2011 12:09

New Law Helps Small Businesses Participate in State Projects

TINLEY PARK – August 5, 2011. Governor Pat Quinn today signed legislation to boost small businesses owned by Illinois Veterans. Under the new law, the state will set an annual goal of 3 percent of every state contract to be set aside for businesses owned by Veterans and service-disabled Veterans.

“Veterans who have taken the initiative to start small businesses and help create jobs should be supported when competing for government contracts,” Governor Quinn said. “We must honor the men and women who have honorably served our country. This important law further recognizes the commitment made by those Veterans who have returned home and are working to support their communities.”

Sponsored by Sen. Maggie Crotty (D-Oak Forest) and Rep. Linda Chapa LaVia (D-Aurora), Senate Bill 1270 amends the Illinois procurement code to help Veteran-owned small businesses better compete in the state bidding process. To be eligible, the businesses must be based in Illinois and be at least 51 percent owned by Veterans or service-disabled Veterans

The new law sets an annual goal of 3 percent of every state contract to go to service-disabled Veteran-owned small businesses (SDVOSB) and Veteran-owned small businesses (VOSB) with annual gross sales of $75 million or less. Larger Veteran-owned businesses can apply for an exemption if they can demonstrate that a significant number of Veteran-owned suppliers or subcontractors would benefit.

Senate Bill 1270 passed the General Assembly unanimously and was supported by the International Brotherhood of Teamsters, Veterans of Foreign Wars (VFW), JAR Consulting, American Institute of Architects – Illinois Council, American Council of Engineering Companies of Illinois, American Institute of Architects and the Illinois Department of Professional Engineers.

The new law takes effect immediately.

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LUJACK’S IS FIRST CHEVY DEALER TO INSTALL EV CHARGER PDF Print E-mail
News Releases - Business & Economy
Written by Gwen Tombergs   
Friday, 05 August 2011 10:54

(Friday, August 5, 2011) Lujack Chevy is proud to announce that they will be the first Quad City Chevy dealer to install an Electric Vehicle (EV) Charging Station. The installation will take place in the Lujack Chevy service department on Thursday, August 11, at 11:00 a.m. by a NECA member qualified local installer. A light lunch will be served

The SPX EL-50580 Voltec charging station, a Level 2 charging station, is an element in an infrastructure that supplies electric energy for the recharging of electric vehicles, plug-in hybrid (electric-gasoline vehicles) or semi-static and mobile electrical units such as exhibition stands. An average charge takes 4 hours with a Level 2 EV charger. The user finds charging an electric vehicle as simple as connecting a normal electrical appliance.

The Chevy Volt offers an initial electric range of 35 miles. Along with its onboard gas generator, the Volt will average a range of 375 miles. For an average of $1.50 a day most drivers can have a gas-free and tailpipe and emissions-free commute. The Chevy Volt was named Motor Trend Magazine’s 2011 Car of the Year.

Lujack Chevy, the Iowa Quad Cities’ only Chevy dealer, is currently taking orders for the new Chevy Volt. Early purchasers will be able to take advantage of the Federal Government’s $7500 rebate.

For more information call Gwen Tombergs, Lujack’s Marketing Director, at 563-343-2058.

“After all, we haven’t inherited this planet from our parents—we’re borrowing it from our children.” Chevrolet

 
Braley Statement on Debt Ceiling Vote PDF Print E-mail
News Releases - Business & Economy
Written by Alexandra Krasov   
Tuesday, 02 August 2011 16:32

Washington, DC – Today, Congressman Bruce Braley (IA-01) released thefollowing statement after the vote on the debt ceiling:

“The simple truth is, today’s vote is a symbol of everything that’s wrong in Washington: partisan brinksmanship, broken promises, backroom deal making, and kicking the can down the road. Enough is enough. I’ve been demanding a balanced approach of shared sacrifice from both the President and the Speaker since the beginning of the year. I’ve listened to my constituents at multiple town halls. Iowans know that when times are tough, families don’t just tighten their belts, they also take on extra jobs to increase their income. Today’s vote squarely places the burden of deficit reduction on middle class families, while demanding nothing of millionaires, billionaires and corporations making record profits. My constituents don’t agree with that, and neither can I.”

In recent months, Rep. Braley voted to cut nearly half a trillion dollars from the current budget:

He called for an immediate withdrawal of our troops in Iraq and Afghanistan, which would save over $1 trillion dollars.

He opposed the invasion of Libya, which has cost taxpayers over $700 million dollars in our 5 months of involvement.

He fought for legislation to end waste, fraud and abuse in Medicare, which would save up to $700 billion.

He opposed the Bush tax cuts,which have already cost over $1.8 trillion dollars. And last December he opposed the extension of President Bush's tax cuts to the wealthiest Americans. By not ending tax cuts for the wealthiest, we will spend another $700 billion over the next decade.

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