Businesses irked -
[Cached Version]
Published on: 3/21/2004
Last Visited: 3/21/2004
Bill Frank, owner of Carlson Wagonlit Travel/Travelbrokers businesses in Homewood, Mokena and Highland, Ind., said that although he is a steadfast Democrat, and a Blagojevich supporter, he is not happy with the governor's tax proposals.
"I don't agree that businesses in Illinois should shoulder the burden of the budget," Frank said."It really seems like he's packing it on (Illinois corporations)."
Frank said he is opposed to taxing all business and corporate income.
"He (Blagojevich) wants to limit the use of foreign tax savings.Fine, I'll do that," he said.
Frank is also against an increase in special taxes on service business, and cited the high fees already paid by Illinois trucking firms.
"As far as the straight line depreciation - I don't get it - explain it to me," he said.
Frank, a Homewood resident, is a member of the Illinois Chamber of Commerce board of directors as well as a past president of the Chicago Southland Chamber.
"By closing loopholes, he is closing the deductibility of expenses for businesses operating in the state," he said."How can companies remain in business if they can't maintain their bottom line?"
Frank said the governor should "take the hit" and have Illinois residents pay a little more tax.
"He swore he wouldn't do it (raise taxes)," he said.