Gov. Pat Quin to offer tax credits in 2011
SPRINGFIELD, Ill. (IRN) — Gov. Pat Quinn said Tuesday he won’t extend the Put Illinois to Work program when its funding runs out in January.
Instead, Quinn says the state will focus on offering tax breaks and other incentives to encourage businesses to hire new employees.
“It would be more like a tax credit,” Quinn said. “A small business, job creation tax credit and I’m very hopeful we can get that done by mid-January.”
Quinn extended the Put Illinois to Work program with state dollars in November when federal dollars ran out, and again in this month in order to keep people working through the holidays. Quinn had hoped for additional federal dollars for the program but that never worked out.
“One of the reasons I extended the program the first time and now a second time is the legislature has this legislation, there’s clear indications there’s interest in passing it and so we want to have an orderly transition where an employer who picks up somebody on a permanent job would get a tax credit,” Quinn said. “We want to encourage employers to hire people on a permanent basis and tax credits are a good way to do that.”
Overall, Put Illinois to Work has employed 26,000 people, with some of those workers being given long-term employment. The majority, though, will likely be stuck looking for a job when funding runs out and the program is shut down.
Reported by Nick Gale
Copyright 2010 Illinois Radio Network