With the Chicago City Council's Dec. 2 approval of a $13 minimum wage and the Illinois General Assembly still debating what to do with the state minimum wage, opinions from all sides abound. Some support a higher state uniform minimum wage, some want it even higher in Chicago, some don't want it to go up at all.
Patrick Hughes of the Illinois Opportunity Project believes the Illinois Restaurant Association's support of an $11 statewide minimum was more an example of political damage control than an act of genuine advocacy.
Predictably, the Sun-Times failed to capture the lamentable truth that fueled the Restaurant Association's decision to take a position that directly contradicts the interests of their industry. Years of uncertainty borne of political games, corruption and misguided policy choices - including high taxes and heavy regulation - have taken their toll and forced the Restaurant Association's hand.
See why Hughes thinks a higher minimum wage in any capacity doesn't help Illinois restauranteurs at all at Reboot Illinois.
With some small business owners considered about the ramifications of a minimum wage increase, Elliot Richardson, president of the Small Business Advocacy Council of Illinois, says the U.S. Cogress can act now to support Illinois small businesses.
As the year comes to a close and small business owners begin to plan for 2015, Congress must immediately extend the $500,000 expense limit allowed under Section 179 of the tax code. This extension will permit small businesses and entrepreneurs to continue expensing the purchase of capital assets such as machinery, equipment, furniture, vehicles and fixtures in the year they are purchased as opposed to depreciating them over their useful lives.
Read his explanation of how these tax policies could help Illinois business owners at Reboot Illinois.