Illinois Losing $126 Million in Sales Tax Revenue?
According to a new report from a D.C. group called "Good Jobs First" the state of Illinois leads the nation in the amount of sales tax receipts it lets retailers keep. The group says the national loss numbers are around $1 billion a year. Illinois accounts for $126 million of that. The WSJ has an interesting article that puts the numbers in a little perspective. According to the article, "A spokesman for the Illinois revenue department said it had attempted over the years to get legislators to cap the compensation program. The initiatives failed amid opposition from retailers." WBBM is reporting Ralph Martire, of the Center for Tax and Budget Accountability, will push for a cap on collection in Illinois. That's an idea that David Vite of the Illinois Retail Merchants Association hates. I caught him on his cell phone. He was very critical of the group that released the numbers and the study. audio