During his weekly video address, Senator Chuck Grassley says thank you to all American veterans for their outstanding service and tremendous sacrifices on Veterans Day and discusses tax policy to encourage employers to hire qualified veterans who have recently completed their military service.

 

Click here for audio.

 

Here is the text of the address:

A difficult job market is challenging the soldiers, sailors and airmen who have protected America's interests by serving in the Armed Forces.  The unemployment rate for veterans is higher than for non-veterans nationwide.  These men and women are extremely capable.  They have valuable skills to offer the workplace.  They need job opportunities.  This week, the United States Senate took action to help by passing legislation to encourage employers to hire veterans.

The legislative proposal that passed builds on previous legislation put forward by Senator Max Baucus and me, as part of our bipartisan work on the Senate's tax policy committee.  That law expired at the end of 2010.  What's now been renewed and passed by the Senate would increase the reward for employers for hiring qualified veterans who have recently completed their service in the military.  The new version of the tax credit also would make it easier for veterans and small businesses to use.

Veterans - including those men and women who were activated by their states as members of the National Guard - will be helped by this tax incentive.  It was passed by the Senate as our nation pauses for Veterans Day.

The eleventh day of the eleventh month is designated as Veterans Day to celebrate as a national community and honor America's living veterans for their courage, patriotism and sacrifice.  America's veterans put their lives on the line to defend freedom, protect national security and secure the safety of loved ones here at home.  Like all those uniformed men and women in whose footsteps they follow, members of the Armed Forces continue to make the words "land of the free and home of the brave" ring true.  We owe our liberty and our way of life to them.

So -- to all of those who have answered the call of duty and served -- I thank you for defending my freedom and the freedom of all Americans.  Those words cannot be said enough.  It's our duty and our privilege to honor all American veterans for their outstanding service and tremendous sacrifices on Veterans Day and every day.

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More Than 500 Illinois Employers Participated in Month-Long Effort

SPRINGFIELD - November 10, 2011. In honor of Veteran's Day (Nov. 11) Governor Quinn today announced a successful month of job fairs aimed at putting Illinois Veterans back to work. Hosted by the Governor's Office and the Illinois Department of Employment Security (IDES), the fairs are a special statewide effort to help Veterans find employment and inform employers about tax credits that encourage business development. More than 500 Illinois employers have participated in this special series of job fairs.

Today's Veterans' job fair in Orland Park is the latest in the series of events that highlight Governor Pat Quinn's effort to grow jobs and connect qualified job seekers with ready-to-hire employers. IDES director Jay Rowell and Illinois Department of Veterans' Affairs (IDVA) director Erica J. Borggren will attend today's fair to support the hiring effort.

"Veterans have served their state and their country, and Illinois makes a special effort to ensure that those returning home from service are able to transition into the job market," Governor Quinn said. "November is Hire a Veteran Month, and we want to help our servicemembers to put their valuable skills to use here at home for Illinois employers."

The Orland Park job fair will run from 10 a.m. to 2 p.m. at the Orland Park Civic Center, 14750 Ravinia Avenue. This is the ninth Veterans' job fair so far this year, with other events held across the state in Chicago, Naperville, Bloomington, Belleville, Mt. Vernon, Carterville, Bartonville and Effingham.

"The men and women of our Veteran community are true national heroes," IDVA director Borggren said. "Veterans are proven and committed public servants, and all of Illinois stands to benefit from an empowered Veteran community."

A state income tax credit of up to $1,200 is available to businesses for each qualified Veteran who is hired. Additionally, employers may qualify for a federal tax credit of up to $4,800 through the Work Opportunity Tax Credit.

Veterans are sought-after employees for their service training, which includes respect for authority, embracing responsibility and success operating in team-based environments. Servicemembers also often have advanced training in technology, manufacturing, construction and logistics.

Success and attendance has grown each year at the statewide Veteran job fairs, which were started in order to recognize the value that Veterans bring to the Illinois workforce. Invited businesses include those whose positions demand the skills military Veterans hone in the service. All Illinois job fairs are open to everyone, and individuals attending should bring resumes and be prepared for brief interviews.

"IDES is Illinois' employment agency, and our job is to put people to work," said IDES Director Jay Rowell said. As we approach Veterans Day, it is wholly appropriate to emphasize the skills of these brave men and women and to show how these skills will help employers succeed."

Illinois has added 37,700 jobs so far this year and 81,000 jobs since January 2010 when job growth returned to Illinois after 23 consecutive months of declines. January 2010 also marked the plateau of the unemployment rate after 33 consecutive month-over-month increases. Since, the monthly unemployment rate has declined 15 times and increased four when compared to the previous month.

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Springfield, IL...The Illinois House of Representatives voted Wednesday to close the pension loophole that allowed two teachers union lobbyists to earn huge state pensions after serving for a single day as substitute teachers.


State Representative Rich Morthland (R-Cordova) co-sponsored House Bill 3865, which would prohibit employees of teachers unions from participating in the state's Teachers' Retirement System. It requires the lobbyists already in the system to forfeit all pension credit earned. HB 3865 passed the House unanimously and will go to the Senate for consideration.

"Today we close the book on another shameful chapter of Illinois history," Morthland said. "These guys were lobbyists masquerading as teachers. They took advantage of a pension loophole that allowed them to receive a teacher's pension after subbing for just one day in the classroom. That's a slap in the face to hard working teachers across Illinois. As a member of this union and as the husband of a member of this union, I'm appalled that it has gotten this far."

A Chicago Tribune/WGN-TV investigation found that two lobbyists with no prior teaching experience were allowed to count their years as union employees towards state teacher pensions after subbing for a single day in 2007.


According to the Tribune report, Steven Preckwinkle, the political director of the Illinois Federation of Teachers, and fellow IFT lobbyist David Piccioli were the only people who took advantage of a small pension window opened by state lawmakers just a few months earlier. The law allowed union officials to get into the Teachers' Retirement System and count their previous years as union employees after quickly obtaining teaching certificates and working in a classroom. Preckwinkle and Piccioli could collect nearly $3 million in pension payouts, based on their union salaries and years of union credit.


"Illinois' pension systems face serious financial problems, with more than $85 billion in unfunded liability," Morthland said. "I'm glad to join my House colleagues in voting to stop these egregious abuses of pension loopholes."

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~ ONLINE EBUSTERS AND OFFERS BEGIN AT 6:00 A.M. THANKSGIVING DAY ~

"May All Your Gifts be Merry and Bright"

York, PA, November 9, 2011 - The Bon-Ton Stores, Inc. (NASDAQ: BONT) today announced Bon-Ton stores will open their doors at 12:00 a.m. on November 25 for the biggest After-Thanksgiving Sale offering over 500 door busters, more than ever before, and a myriad of special offers and discounts for its customers.  Bon-Ton's After-Thanksgiving eBusters and specials will be available online beginning at 6:00 a.m. on Thanksgiving Day.  In addition, Bon-Ton announced its holiday marketing campaign inviting its customers to experience the "May all Your Gifts be Merry and Bright" theme in our stores, social media and online.

Bud Bergren, President and Chief Executive Officer commented, "We are very excited about giving our customers an early start on one of their favorite shopping days and believe they will appreciate the exceptional value of our door busters and special offers.  Our customers can maximize their holiday budget with our value-priced gifts, all offering the quality, fashion and styling shoppers have come to expect from Bon-Ton.  The decision to open at midnight was based on our customers' feedback - they wanted the convenience of shopping earlier.  We believe this will enhance our customers' over-all shopping experience."

Mr. Bergren continued, "'May all your gifts be merry and bright' says it all.  We are offering our customers distinctive gifts in every category making it even easier to choose that special gift for that special person at values that will exceed our customers' expectations.  Our customers can enjoy the convenience of shopping the way they choose - in our stores, online and kiosks. We are very excited about the holidays and we believe our customers will be too when they experience the glitter and sparkle of our gift assortments."

  • After-Thanksgiving Day hours: Bon-Ton will be open from 12:00 a.m. to 10:00 p.m. on November 25.  Over 500 After-Thanksgiving door busters will be available from 12:00 a.m. on November 25 until 1 p.m. on Black Friday, November 25, or while quantities last.
  • Marketing campaign for November and December: "May all Your Gifts be Merry and Bright" campaign highlights the dazzling array of gifts in the ladies, men's, children's, cosmetics/fragrances and home departments. We have bright gift ideas at prices that will make our customers merry.
  • 24/7 - Bon-Ton is there whenever and wherever customers are:
  • Every Tuesday in November and December, there will be weekly Deal of the Day with extraordinary online-only gift deals.
  • 20 Days of Holiday Gift Giving starting December 1.  Every day for 20 days, a feature gift category with 30% off + FREE shipping on that category.
  • Digital and Social Media: Bon-Ton will increase its investment in all digital channels including Facebook, Twitter and mobile campaigns.  Through these media channels, customers will be able to stay in the loop on special holiday gift ideas, discount offers and exclusives throughout the holiday season.  For the convenience of our customers, coupon offers during the holiday season can be sent directly to their mobile device by texting "SHOPPASS" to 266866.  Customers can show their mobile phone at any register to get their digital savings.
  • Email Alerts: sign up to receive email exclusive offers for the entire holiday season by visiting any of our Bon-Ton Stores web sites.
  • Television: Bon-Ton has increased its spend to reach more customers.  Holiday television will include a mix of :15 and :30 spots that will support sale events and highlight unique merchandise offers that support the holiday campaign.
  • Direct Mail: Bon-Ton will mail to a wider base of customers this holiday season.  Bon-Ton Stores proprietary credit card holders will receive advance notice of sales as well as special shopping offers.
  • Extended Shopping Hours during the holiday season starting with After-Thanksgiving through December 24 make shopping more convenient. We know our customers appreciate that extra time as they shop for that extra special gift.
  • Holiday Plush Animals to Benefit Boys and Girls Clubs: Again this year we will offer two exclusive plush animals in our stores and online - a holiday moose and polar bear - 10% of sales will benefit the local Boys & Girls Clubs in our communities. In its ninth year, the promotion has raised more than $940,000 for local Boys & Girls Clubs through fundraising events.

The Bon-Ton Stores, Inc., with corporate headquarters in York, Pennsylvania and Milwaukee, Wisconsin, operates 276 department stores, which includes 11 furniture galleries, in 23 states in the Northeast, Midwest and upper Great Plains under the Bon-Ton, Bergner's, Boston Store, Carson Pirie Scott, Elder-Beerman, Herberger's and Younkers nameplates and, in the Detroit, Michigan area, under the Parisian nameplate.  The department stores offer a broad assortment of national and private brand fashion apparel and accessories for women, men and children, as well as cosmetics and home furnishings.  Visit www.bonton.com for more information on special store hours, in-store offerings and online specials.

 

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Wednesday, Nov. 9, 2011

Sen. Chuck Grassley of Iowa expressed concern in 2009 when the IRS, Treasury Department and congressional supporters decided to end a program using outside contractors to try to help collect overdue taxes.  Grassley made the following comment today on a new report showing the IRS has not pursued many of the cases from the private debt collection program.

"The IRS assured us all that the agency could do a better job with these tax cases than outside firms and didn't need any help.  It turns out that the IRS isn't doing a better job and in many cases, isn't doing the job at all.  The IRS and Treasury Department went out of their way to stop a means of collecting tax debt that the IRS otherwise will never collect.  They bowed to union pressure and terminated an alternative collection program before it had a chance to reach its full potential.  It's a shame the IRS continues to let tax debt slide while honest taxpayers pay what they owe.  The agency should explain why that's the case.  And the Administration should be focused on collecting existing taxes owed before trying to impose new taxes, as is being suggested in deficit reduction proposals."

Report details follow:


Treasury Inspector General for Tax Administration

Press Release

 


November 9, 2011
TIGTA - 2011-80
Contact: David Barnes
(202) 622-3062
David.barnes@tigta.treas.gov
TIGTACommunications@tigta.treas.gov

TIGTA: The IRS Did Not Pursue Collections on All Cases Returned From the Private Debt Collection Program

WASHINGTON - The Internal Revenue Service (IRS) has not taken collection actions on 47 percent of a statistical sample of 62 past-due tax cases that were returned when the Private Debt Collection Program ended in 2009, according to a new report publicly released today by the Treasury Inspector General for Tax Administration (TIGTA).

From 2006 to 2009, the Private Debt Collection (PDC) Program collected $98.2 million from delinquent cases that were considered low-yield and therefore not generally worked by IRS employees. The IRS initially contracted with three private debt collection agencies to pursue these collection cases.

When the PDC Program was discontinued in March 2009, the IRS recalled cases with a total assessed balance of $848.5 million from the remaining contractors. TIGTA reviewed the effectiveness of collection actions taken by the IRS on taxpayer accounts returned by the PDC Program.

The IRS did not always pursue collection actions on cases returned to the IRS or analyze the best practices of the private debt collection agencies in the PDC Program for possible improvement of IRS collection practices, TIGTA found.

"The IRS must do its best to work these cases, since taxpayers who do not timely pay all their taxes create an unfair burden on taxpayers who do," said J. Russell George, Treasury Inspector General for Tax Administration. "This sense of unfairness can erode the public's respect for the tax system," added George.

TIGTA reviewed a statistical sample of 62 cases returned in Fiscal Year 2009 and found that collection actions were not taken for 29 (47 percent) of the 62 cases. These cases were not selected for collection action due to collection policies and inventory assignment practices. TIGTA estimates that potentially $30.7 million in collections will remain as outstanding liabilities. In addition, TIGTA estimates that the IRS may not collect an additional $103.2 million per year, or $516 million over the next five years, from similar cases in its inventory that would have otherwise been assigned to the PDC Program.

TIGTA also reviewed a statistical sample of installment agreement cases returned during Fiscal Year 2009 and determined that no collection actions were taken for six (10 percent) of 61 cases reviewed. TIGTA estimates that potentially $58,000 in collections will remain as outstanding liabilities. Finally, the IRS did not capture or use PDC Program data and results to improve its own collection practices.

TIGTA recommended that the IRS:

  • Ensure that Collection policy and procedures are reviewed for inventory assignment practices to determine if cases that otherwise would have been assigned to the PDC Program can be worked, or consider reinstituting the Program; and
  • Evaluate private-collection agency best practices and lessons learned for potential improvement of IRS collection processes.

In their response to the report, IRS officials partially agreed with the recommendations and stated that they have begun taking steps to address TIGTA's concerns. The IRS implemented a process to improve balance-due case prioritization and reviewed collection agency operations to identify potential best practices. TIGTA is encouraged by the IRS's commitment to improving case selection and prioritization processes. However, it is still unclear how the IRS would actually work lower priority cases like those eligible for the Program.

Read the report.

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WASHINGTON - Senator Chuck Grassley today said it's very good news that the veterans hiring legislation he and Senate Finance Committee Chairman Max Baucus introduced in January may be included in a larger proposal that the Senate will vote on this week.

"These men and women are extremely capable," Grassley said.  "They have a lot of skills to offer in the workplace.  The legislation that Senator Baucus and I put together would clear some bureaucratic hurdles and add a financial incentive to encourage employers to seek out veterans.  These steps are a logical follow-up to my effort to increase the IRS' hiring of veterans.  The IRS saw the value of this pool of potential workers and followed through on increased hiring of veterans.  Other employers, including small businesses, should have similar opportunities.  Whether our bipartisan legislation is included by amendment, or when the larger package is brought up for a vote, the veterans hiring proposal needs to be passed."

As introduced, the Veterans Employment Transition Act, or the VETs Jobs bill, would reward employers for hiring qualified veterans who have recently completed their service in the military with a tax credit of up to $2,400 per veteran.  A previous version of this credit, which was part of the Work Opportunity Tax Credit and also authored by Grassley and Baucus, was designed to help employers hire veterans but expired at the end of 2010.  The new version of the legislation would reinstate the tax credit and make it easier for veterans and small businesses to use.  As a result, servicemen and women who have been recently discharged would be able to provide documentation directly from the Department of Defense without having to go through the tax credit's current certification process.

Any veteran who has left active duty in the past five years who has discharge paperwork showing 180 days of qualified active duty would be eligible for the credit. This would include those men and women who were activated by their states as members of the National Guard.  The bill also helps service members market themselves to prospective employers by requiring the military to educate service members about how the credit works.

Noting that the unemployment rate for veterans is higher than for non-veterans nationwide, the senators first introduced the VETs Jobs bill in May 2010.

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Friday, Nov. 4, 2011

Sen. Chuck Grassley of Iowa made the following comment on whether Gary Gensler, the chairman of the U.S. Commodity Futures Trading Commission, should recuse himself from matters related to MF Global Holdings Ltd., the fund that was run by former New Jersey Gov. Jon Corzine, in light of media reports outlining close, longstanding ties between Gensler and Corzine.  Media reports say Gensler and Corzine "rose through the ranks" together at Goldman Sachs Group Inc. for 18 years and collaborated on Capitol Hill when Corzine was a senator and Gensler was a staffer.

"The chairman of the U.S. Commodity Futures Trading Commission is supposed to look out for investors.  MF Global's case is a big collapse that requires a lot of work from the commission to try to figure out what went wrong and minimize further investor losses if possible.  It's hard to see how the commission chairman could be completely objective in looking out for wronged investors when he has such strong ties to the principal of the failed firm.  It seems recusal would be the best outcome for investors."

Rising fees at banks spark consumer action during October in run-up to 'Bank Transfer Day`

Des Moines, Iowa– Reacting to rising fees at banks, hundreds of thousands of consumers have rushed to credit unions over the past four weeks, and have joined existing credit union members in depositing or shifting billions of savings to credit unions, according to estimates released today by the Credit Union National Assn. (CUNA), the nation`s largest credit union advocacy group.

Based on the responses of a nationwide survey of 5,000 credit unions, CUNA estimates that at least 650,000 consumers across the nation have joined credit unions since Sept. 29 (the day Bank of America unveiled its now-rescinded $5 monthly debit card fee). Also during that time, CUNA estimates that credit unions have added $4.5 billion in new savings accounts, likely from the new members and existing members shifting their funds.

The survey results also show that more than four in every five credit unions experiencing member growth since Sept.  29 attributed the growth to consumer reaction to new fees imposed by banks, or a combination of consumer reactions to the new bank fees plus the social media-inspired "Bank Transfer Day," Nov. 5.

"Bank Transfer Day" urges consumers to transfer their accounts from banks to credit unions by Saturday, Nov. 5.

Membership in Iowa has increased by three percent from June 2010 to June 2011. This growth number is prior to the Bank Transfer Day movement.

Many Iowa credit unions are doing whatever they can to help serve this consumer surge in interest in credit unions. Some credit unions are extending hours and staffing for this Saturday (Nov. 5), performing email blasts to members, maximizing social media campaigns, putting up banners in lobbies, offering bonuses to members who bring in new members (and giving bonuses to new members as well), said Patrick S. Jury, President/CEO, Iowa Credit Union League.

"Credit unions have always been in the business to protect the interests of their members and to ensure their financial needs are being met," said Jury.  "We encourage consumers to make the change to credit unions so they can experience the credit union difference and take steps to become more financially secure."

To find a credit union visit www.IowaCreditUnions.com.

The Iowa Credit Union League is the trade association that represents the interests of Iowa credit unions and their more than 900,000 members. Credit unions are not-for-profit, financial cooperatives owned and operated by their members. Iowans use their credit union membership to receive higher interest rates on savings and lower interest rates on loans. For more information on ICUL and Iowa credit unions, visit www.IowaCreditUnions.com. Follow ICUL on Twitter at www.twitter.com/icul or on Facebook at www.facebook.com/iowalittleguy.

 

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DES MOINES, IA (11/03/2011)(readMedia)-- State Treasurer Michael L. Fitzgerald reports that outstanding debt obligations for state and local governments in Iowa totaled nearly $13.8 billion as of June 30, 2011. Overall, this represents an increase of 6.61% from last year. All political subdivisions, instrumentalities, and agencies of the state are required to disclose this information annually to the State Treasurer.

Cities continued to report the greatest amount of outstanding obligations with 35% or $4.8 billion of all outstanding debt. Cities mainly issued debt for utility/sewer projects (35%). Most city debt was issued as general obligation debt (59%).

Schools and Area Education Agencies reported the second largest amount of outstanding debt with an increase of 9.46% over last year. Of the $2.7 billion reported, the majority (over $2.6 billion) was for public buildings and schools.

State agencies accounted for the largest increase in debt for fiscal year 2011, due largely to the I-Jobs program and the new Iowa State Penitentiary being constructed in Fort Madison. The IJOBS financing secured bonds to strengthen Iowa's economy and help Iowa recover from the natural disasters of 2008. I-Jobs bonds account for $160 million of the increase, while the State Penitentiary bonds account for $130 million of the increase.

Iowa counties reported an increase of 22.9% in debt over last year. Polk County reported 35% of the $828 million in outstanding county debt.

Other entities with outstanding debt issues include state authorities with $2.3 billion, community colleges with $573 million, the Board of Regents with $1.3 billion, and others (utility systems) with $38 million.

The report is available in its entirety at www.treasurer.state.ia.us (can also be viewed by county, excluding short term/anticipatory debt) or from the Office of the State Treasurer, State Capitol Building, Des Moines, Iowa 50319.

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Rock Island, IL...Yesterday, the Illinois Policy Institute released a statement calling the Amazon Tax "all pain, no gain." The group released a YouTube video featuring local businessmen Mike Martin and Jonathan Wallace. Wallace, founder of NoCollarMedia.com, and candidate for State Representative in the Illinois 72nd criticized his opponent Pat Verschoore on the "Amazon Tax."

Wallace is specifically referring to the affiliate nexus law, voted for by State Representative Pat Verschoore earlier in 2011, and signed by Governor Pat Quinn. The law is commonly called the Amazon Tax. The controversial law shifts the complex burden of sales tax collection from individuals to out-of-state retailers who have no physical presence in Illinois. As a result, Amazon and Overstock.com decided to cut ties with business affiliates, thereby driving businesses to Iowa and surrounding regions.

"I think this law is a flashing neon sign to new startups and young entrepreneurs that you aren't welcome in Illinois," said Wallace. "My opponent is an advocate of raising taxes, creating burdens for an already challenging small business environment. Illinois has the potential to be the next Silicon Valley but that potential is continually squandered by politicians like Verschoore."

Wallace continued to discuss the economic impact that this law has on Illinois businesses and jobs, "This is just another part in the entire exodus of the state," referring to small businesses who are leaving or are looking to leave Illinois due to new taxes being imposed and an unfavorable policy environment.

Jonathan Wallace is a candidate for the Illinois State Representative in the 72nd District. Jonathan is a small businessman, entrepreneur, former Township Trustee, and serves as an advisor for State Representative Rich Morthland.

The link to the YouTube video can be found here:

http://www.youtube.com/watch?v=_d3mzePWxPQ&feature=relmfu

The link to the Illinois Policy Institute brief can be found here:

http://illinoispolicy.org/news/article.asp?ArticleSource=4480

For more information, visit http://www.jonathanwallace2012.com or email jonathanwallace2012@gmail.com

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