SPRINGFIELD, Ill. (AP) - Illinois Gov. Bruce Rauner has signed a temporary extension of a corporate tax incentive program which has been criticized as expensive and too favorable to large businesses.
The Republican’s action on Friday extends through April the EDGE program - for Economic Development for a Growing Economy.
Rauner supports replacing EDGE with another proposed incentive program which would be less generous.
EDGE provides tax breaks to businesses that create and maintain jobs in Illinois.
Rauner backs a sweetener that gives companies credit for 50 percent of the withholding taxes from jobs created. EDGE gave them 100 percent credit.
Some lawmakers complain that EDGE is too expensive or benefits larger companies over smaller ones.
The bill is SB513 .
Copyright © 2021 The Washington Times, LLC.