News

Democrats, GOP Spar Over “Business Inversion”

Democrats, GOP Spar Over “Business Inversion”

Illinois Republicans and Democrats are butting heads over the solution to companies reincorporating out of the United States to save on taxes.

Gov. Pat Quinn is favor of changing the tax code to remove the incentive for companies to, on paper, move overseas while keeping most of their operations in the U.S.

“We can’t have corporate deserters leaving our country, trying to go elsewhere to pay less than they should in taxes that support America,” Quinn said.

U.S. Senator Dick Durbin (D-Ill..) has introduced legislation removing those loopholes and preventing so-called inverted corporations from receiving federal contracts. His Republican opponent in the November election, State Sen. Jim Oberweis (R-Sugar Grove), doesn’t think highly of those ideas.

“Oh my gosh, what a lame-brained…stupid idea,” Oberweis said. “I mean, that’s about as nice as I can be about it.”

Oberweis claims companies are following rules Durbin and other Democrats put into place.

Recent Headlines

in Music

Turn it down: Study says millions at risk for hearing loss

earphones

A new study shows almost half of all 12 to 35-year-olds listen to unsafe levels of music on their personal audio devices or cellphones.

in Entertainment, Viral Videos

What color is this dress?

19-overlay6

The "great dress debate" has been dividing the Internet. Are you team #WhiteandGold or team #BlueandBlack?

in Entertainment

PHOTOS: Leonard Nimoy through the years

AP8209190316_5

Although he capped his "Star Trek" run with a notable career as both an actor and director, in the public's mind he will always be Spock.