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Plan would give ADM tax breaks to stay in Illinois
Associated Press ^ | Sep 28, 2013 2:38 PM EDT | Sarah Burnett

Posted on 09/28/2013 11:47:19 AM PDT by Olog-hai

Illinois lawmakers are considering a tax incentive package in hopes of persuading agribusiness giant Archer Daniels Midland Company not to move its global headquarters out of the state.

The proposal filed Friday in the Illinois House would give ADM a 10 percent break on utility taxes for up to 30 years and a credit against some state income tax withholdings. The value of the incentives was not disclosed.

The package was introduced by state Rep. John Bradley, a Democrat from Marion who is chairman of the House Revenue and Finance Committee. The committee is scheduled to meet Tuesday in Chicago to consider “investment tax credits,” though specific legislation to be discussed has not been posted. …

(Excerpt) Read more at hosted.ap.org ...


TOPICS: Business/Economy; Government; News/Current Events; US: Illinois
KEYWORDS: adm; agribusiness; liberalagenda; taxincentives

1 posted on 09/28/2013 11:47:19 AM PDT by Olog-hai
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To: Olog-hai

all the other companies not getting this tax break should pack up and leave.

I think all companies should be paying the same tax rate, no favorites should be played by government.


2 posted on 09/28/2013 11:50:11 AM PDT by GeronL
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To: Olog-hai

Tax breaks for the rich? Obviously a bribe not to leave a state ravaged by Democrat taxing and spending. Write Springfield for your bribe now before the Spring rush.


3 posted on 09/28/2013 11:51:35 AM PDT by trubolotta
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To: Olog-hai

I thought liberals were against big business getting “subsidies” from government?


4 posted on 09/28/2013 11:53:05 AM PDT by lormand (Inside every liberal is a dung slinging monkey)
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To: Olog-hai

Illinois should pay them to leave...the country.


5 posted on 09/28/2013 11:53:15 AM PDT by alice_in_bubbaland (When injustice becomes law, resistance becomes mandatory ... Thomas Jefferson)
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To: Olog-hai

*snicker* that will last about as long as a dollar bill on a New York sidewalk. As soon as they decide that they need more revenue for a pet project they will pull a Jerry Brown on them and slap a retroactive tax that will make up for the shortfall. You were promised a tax break? Sorry, we are several billion short this quarter and have decided that we can not afford to actually allow you to have the largesse we promised you.


6 posted on 09/28/2013 11:58:12 AM PDT by Utilizer (Bacon A'kbar! - In world today are only peaceful people, and the mooslimbs trying to kill them-)
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To: Olog-hai

This is just a shakedown. On a total basis of total tax burden, Illinois is about in the middle of the pack, despite all the hype about the recent increase in the corporate income tax. That’s why virtually no companies are leaving, and neither woult ADM but hey, why shouldn’t they go for free stuff like everybody else?


7 posted on 09/28/2013 12:00:47 PM PDT by bigbob
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To: Olog-hai

What! But leftists claim tax cuts don’t create growth & increasing taxes helps the economy.


8 posted on 09/28/2013 12:00:56 PM PDT by RginTN
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To: alice_in_bubbaland
ADM, the company behind the Elian Gonzalez outrage.
9 posted on 09/28/2013 12:02:50 PM PDT by robowombat
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To: Utilizer

That’ll be an ex post facto law. ADM will pull out even faster, never mind sue the state.


10 posted on 09/28/2013 12:03:43 PM PDT by Olog-hai
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To: RginTN

What a shocker, a Democrat acting like a “right-wing Republican” in order to keep business in his state. Hypocrisy be damned, right?


11 posted on 09/28/2013 12:04:33 PM PDT by Olog-hai
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To: Olog-hai

Democrats know how to play the political game better than the GOPe. Having the media standing with them helps much too


12 posted on 09/28/2013 12:10:37 PM PDT by RginTN
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To: robowombat
ADM, the company behind the Elian Gonzalez outrage.

Huh...???

13 posted on 09/28/2013 12:12:30 PM PDT by Popman (Liberal wars are about killing people for humanitarian reasons...)
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To: Olog-hai

Who was it that said, and correctly at that, “Only the little people pay taxes.”?


14 posted on 09/28/2013 12:24:08 PM PDT by Don Corleone ("Oil the gun..eat the cannoli. Take it to the Mattress.")
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To: Olog-hai
Like POS government goons care about laws that do not benefit them? Think Erik (the RedCommie) Holder and the black thugs outside those voting booths that OF COURSE were not intimidating voters.

Note: POS does not stand for Point Of Sale. Although it could stand for Perpetual Odumu Supporter. (/sarc)

15 posted on 09/28/2013 12:24:23 PM PDT by Utilizer (Bacon A'kbar! - In world today are only peaceful people, and the mooslimbs trying to kill them-)
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To: Utilizer

They can only push so far.


16 posted on 09/28/2013 12:26:25 PM PDT by Olog-hai
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To: alice_in_bubbaland

I lived there, but I got out before the wealth had declined to the point where the rot became obvious. I took my high-tech skills and good job with me, too - I was never replaced.

I’ll be glad to move back, but I’d like some tax breaks. For example, to be taxed for income, sales, and state/local property taxes no higher than the lowest 25% of the rest of the states, for as long as I live there. Otherwise, they can sit and spin.


17 posted on 09/28/2013 12:31:04 PM PDT by The Antiyuppie ("When small men cast long shadows, then it is very late in the day.")
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To: Olog-hai
I suppose. But I am already paying just under 50 percent of whatever I make in taxes of one sort or another, so it must be all right then. State Income Tax, Federal Income Tax, Sales Taxes, Property Taxes, Parking and Traffic Fines, taxes at the petrol pump, and THEN I have the "Inheritance Tax" fees (50 percent straight off the regular payments, BEFORE income taxes), EPA fines (I live adjacent to Public Lands -don't ask about how it is defined as a 'wetland' due to drainage from the lawn)... I could go on. Really.

Actually, now that I think about it... it has been a few years since I last attempted to figure them all out, and at the very least petrol prices have almost doubled along with basic food prices so I might well be over 50 percent at this point.

18 posted on 09/28/2013 12:45:50 PM PDT by Utilizer (Bacon A'kbar! - In world today are only peaceful people, and the mooslimbs trying to kill them-)
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Oh, yes: forgot “Insurance”.


19 posted on 09/28/2013 1:01:53 PM PDT by Utilizer (Bacon A'kbar! - In world today are only peaceful people, and the mooslimbs trying to kill them-)
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To: Olog-hai

I don’t think they actually care about state tax revenues from one company or another. I think they offer these breaks for the “one hand washes another” deal.

Someone doesn’t want the envelopes to stop coming in.


20 posted on 09/28/2013 1:11:34 PM PDT by esoxmagnum (The rats have been trained to pull the D voting lever to get their little food pellet)
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To: Olog-hai

MILAN ILLIONIS’ LEWIS MACHINE AND TOOL WILL PULL OUT OF ILLINOIS FORTHWITH AND IS HEADIN TO IOWA AND A GUN FRIENDLY ENVIRONMENT.. I WONDER WHY? OH MY GOD...

http://gunssavelives.net/gun-industry/video-breaking-lewis-machine-tool-lmt-to-leave-anti-gun-illinois-taking-business-to-iowa/#


21 posted on 09/28/2013 1:12:15 PM PDT by jimsin
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To: Popman

ADM was strongly interested in producing ethanol from sugar waste. It is cheaper than refining it from corn. Brazil was already operating its own aper and more efficient than refining from corn. Brazil was already using all its sugar cane waste for its own ethanol operation. Cuba was the only logical source. ADM marshaled their political forces to get an exception to the trade embargo through Congress to import partially refined ethanol from Cuba. ADM would build the plants and operate for Castro on a few split basis and get a low price on the imported raw product. Clintoon and his crooked friends were heavily into this. Castro was mad as h-ll that the UN Human Rights Commission (yes the UN) had issued a scathing report on human rights abuses in the island paradise. somehow ADM through their contacts with Castro got informal word if the US would play ball on the Gonzalez case and state that Cuba was a great place for a boy to grow up in it would curry favor with the Lider Maximo in signing off on the ethanol deal. So the Clintoonians pushed ahead and were really surprised at the pushback (’Some lousy kid causing all this trouble’, was how one White House puke put it.) but had to push it through. The Clintoonians mustered all the usual commie lovers to cheer on the official kidnapping. ironically Castro was still so angry over the resistance the ethanol deal was getting in Congress and because of the UN Human Rights report he said screw you Bill after Elian got in his clutches.


22 posted on 09/28/2013 1:56:05 PM PDT by robowombat
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To: Olog-hai

Why haven’t they proposed a special tax break for my business?


23 posted on 09/28/2013 7:35:29 PM PDT by 1010RD (First, Do No Harm)
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To: 1010RD

Some animals are more equal than others, evidently.


24 posted on 09/28/2013 9:43:35 PM PDT by Olog-hai
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