One part of Gov. Pat Quinn's budget plan has quietly cleared half the Legislature.
The House voted 117-0 today for Senate Bill 1578, which offers a tax credit for businesses that create new jobs.
The credit proposed by Quinn earlier this month aims to help get Illinois' struggling economy back on track by offering small businesses a $2,500 tax credit for each new hire they make in the next year.
Qualifying employers would be limited to those with 50 or fewer employees. And there's a $50 million cap on the total number of credits that can be awarded. Quinn estimates 20,000 new jobs could be created from the incentive, although some business advocates have questioned whether a small credit would actually prompt employers to create new jobs.
Lawmakers did not discuss the measure after a brief explanation of it from House Speaker Michael Madigan, D-Chicago. It now goes to the Senate for consideration.
State Capitol Bureau
