Cullerton probes corporations to release tax information
Publicly traded corporations asked to release tax information – Cullerton
Eyebrows were lifted when John Cullerton asked corporations to disclose detailed records from their annual tax bill. A public corporation would be required to make tax filings public. If the corporation does not pay its taxes, it would have to reveal why. On Wednesday, the proposal was approved by the Senate executive committee 9 to 5. The current law does not permit such disclosure.
Republicans and Businesses were not happy
Senate Republican Leader Christine Radogno, of Lemont said it was “political gamesmanship”. Was this a shot in the dark? Cullterton says “the goal help the state and public evaluate the effectiveness and need for corporate tax breaks, publicly traded corporations already tell shareholders how their investments resulted in losses and profits. The people of Illinois deserve the same transparency.”