Apparently the state is slowly moving ahead with proposals to start fracking for shale oil in southern Illinois. This part of the proposal is what caught my eye:
To address concerns that the drilling should bring jobs to Illinois, the proposal now includes a “local workforce tax rate reduction” incentive, said state Reps. David Reis, R-Willow Hill, and Mike Bost, R-Murphysboro.
Drilling operators, who will pay Illinois a tax on the amount of oil or gas produced, will be able to reduce what they pay if at least 50 percent “of the workforce hours on the well site are performed by Illinois construction workers being paid wages equal to or exceeding the general prevailing rate.”
In general, any time companies get a tax refund or reduction for the purpose of creating jobs, it is an act of faith that cutting or reducing taxes will create more jobs. I haven't seen a great increase in jobs since the SIUC Stadium and Arena were rebuild and remodeled. The state of Maine is looking into what, if any, benefit in terms of jobs come from tax reductions as it hasn't seen them either.
To address concerns that the drilling should bring jobs to Illinois, the proposal now includes a “local workforce tax rate reduction” incentive, said state Reps. David Reis, R-Willow Hill, and Mike Bost, R-Murphysboro.
Drilling operators, who will pay Illinois a tax on the amount of oil or gas produced, will be able to reduce what they pay if at least 50 percent “of the workforce hours on the well site are performed by Illinois construction workers being paid wages equal to or exceeding the general prevailing rate.”
In general, any time companies get a tax refund or reduction for the purpose of creating jobs, it is an act of faith that cutting or reducing taxes will create more jobs. I haven't seen a great increase in jobs since the SIUC Stadium and Arena were rebuild and remodeled. The state of Maine is looking into what, if any, benefit in terms of jobs come from tax reductions as it hasn't seen them either.
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