Ill. Senate approves Cullerton tax transparency - FOX 32 News Chicago

Ill. Senate approves Cullerton tax transparency

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SPRINGFIELD, Ill. (Associated Press) -

Illinois Senate President John Cullerton's plan to require corporations' income tax bills to be made public has barely won approval.

The Senate voted 30-27 Wednesday to OK a proposal Cullerton says would help lawmakers plan tax policy.

The Chicago Democrat says legislators don't know whether their tax incentives and credits are working. He says two-thirds of businesses doing work in Illinois pay no corporate income tax.

Republicans criticized the measure as "anti-business (and) anti-employment." Others questioned whether it would be legal to post the information. Cullerton amended the bill to prevent posting of federally prohibited tax information.

Cullerton says the legislation is "not a `gotcha' to the business community."

Business leaders say it unfairly targets some businesses.

The bill moves to the House.

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