Michael Lucci with the Illinois Policy Institute wrote this article about another IL manufacturer that is leaving our state. The reason: IL worker’s compensation premiums as a percentage of payroll are between 6.9% and 12.9% — in Tenessee they are between 4% and 6.4%. That means hundreds of thousands of dollars in annual savings for manufacturers which can go toward more hiring and investment. Oh and also in November, voters in the Volunteer State passed a constitutional amendment to prohibit income taxation permanently, making it impossible for lawmakers to impose a tax on personal earnings and business income.
These are facts to know and ask about when we attend a town hall meeting of your representatives. Some bills were discussed: House Bills 2418-2422, sponsored by state Rep. Dwight Kay, R-Edwardsville; Senate Bills 769, 771, 772, sponsored by state Sen. Kyle McCarter, R-Vandalia. These bills address a variety of loopholes and vague definitions in the Workers’ Compensation Act, and eliminate opportunities for abuse of workers’ compensation benefits. Abuse of this system is costly not just for employers, but also those who truly need and deserve this assistance.
Here’s the full article:
https://www.illinoispolicy.org/as-springfield-stal…
