Protesters to target leading corporate tax deadbeat in push for greater Illinois tax transparency Monday

Illinois loses hundreds of millions of dollars in federal revenue because of company’s corporate tax evasion, charge activists, while 80% of Illinois residents support corporate tax transparency.

On Monday, July 1 at noon, Fair Economy Illinois and their partner organizations are hitting one of the nation’s biggest corporate deadbeats to raise awareness about the company’s sweeping failure to pay their fair share of Illinois and federal taxes. The protest is part of a broad campaign to support corporate tax transparency legislation in Illinois, in what promises to be one of the fall legislative season’s most energized grassroots legislative efforts in Springfield.

Illinois doesn’t have to be broke, charge activists. Two-thirds of corporations operating in the state pay no Illinois corporate income tax – and the target company’s tax evasion alone costs hundreds of millions of dollars in lost revenue each year for Illinois residents and their schools, public safety systems and other civic agencies.

Nippon Sharya, a railcar manufacturer received almost $10million in state and local tax breaks, and a billion in state and federal contracts for 80 jobs. Tax breaks will more than pay for the jobs, giving the company millions in taxpayer funded profit and making the workers essentially a welfare work program.

Nippon Sharya, a railcar manufacturer received almost $10million in state and local tax breaks, and a billion in state and federal contracts for 80 jobs. Tax breaks will more than pay for the jobs, giving the company millions in taxpayer funded profit and making the workers essentially a welfare work program.

81% of the State of Illinois’ revenue comes from income and sales taxes on goods purchased by ordinary residents, while only 8% of Illinois’ revenue comes from corporate income tax payments. That fundamental inequity forces working people to pay higher taxes – and forces children, the elderly, the disabled, state employees and local communities to bear the burden of cuts to education, healthcare, retirement security and frontline public services, say tax accountability advocates.

Tax fairness starts with tax transparency, say members of Fair Economy Illinois and its partner groups, who are pushing legislation in Springfield that would force the disclosure of corporations that are paying no taxes in Illinois – and the reasons for those tax dodges. House Bill 3627 — introduced this May by Barbara Flynn Currie — would address the current cover-up. The Senate passed a similar bill, SB 282, in November but it was killed in the House Revenue Committee by both Democratic and Republican legislators.

Nearly 80% of Illinois voters say legislation to require publicly-traded corporations to disclose how much they pay in Illinois corporate income tax is a good idea — with 75% of Republicans, 80% of Democrats and 84% of Independents saying it is a good idea — according to a survey by Public Policy Polling. Read the entire poll here: http://bit.ly/17lvzaH
Fair Economy Illinois: http://www.faireconomyillinois.org

NEWS ALERT: For Immediate Release

Press Contact: Don Floyd, dfloyd@iiron.org, 815-751-5621; Chris Geovanis, chrisgeovanis@gmail.com, 312-446-4939

Protest/Direct Action: Leading Corporate Tax Deadbeat

Monday, July 1, noon, Chicago, IL: Location to be announced

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About 900poundgorilla

W.C. Turck is a Chicago playwright and the author of four widely acclaimed books.His latest is "The Last Man," a prophetic novel of a world ruled by a single corporation. His first novel, "Broken: One Soldier's Unexpected Journey Home," was reccommended by the National Association of Mental Health Institutes. His 2009 Memoir, "Everything for Love" chronicled the genocide in Bosnia and the siege of Sarajevo. His third book "Burn Down the Sky" is published exclusively on Amazon Kindle. It was in Sarajevo at the height of the siege where he met and married his wife, writer and Artist Ana Turck. FOX NEWS, ABC, CBS News, the Chicago Tribune and The Joliet Herald covered their reunion after the war. He helped organized relief into Rwanda during the 1994 genocide. Turck has been a guest on WMAQ-TV, WLS in Chicago, WCPT, WBBM radio, National Public Radio, Best Of the Left and the Thom Hartmann show. He has spoken frequently on Human Rights, Genocide and Nationalism. In 2011, his play in support of the Occupy Movement, "Occupy My Heart-a revolutionary Christmas Carol" recieved national media attention and filled theaters to capacity across Chicago. He remains an activist to the cause of human rights and international peace. View all posts by 900poundgorilla

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