Friday, March 2, 2018

While Dan Biss campaigns on a LaSalle Street tax, his record tells a different story. In the General Assembly, Biss voted for millions in tax breaks for financial exchanges like the ones he assails with the LaSalle Street tax. Explaining his vote, Biss noted that it is because an exchange is a “fundamentally extremely mobile business” that could easily pick up and move out of the state. That hasn’t changed, but it appears that Biss’ stance on the issue has.  

REALITY CHECK: 

• In 2012, Dan Biss voted for a bill with $216 million in tax breaks for businesses, with $85 million going directly to tax breaks for financial exchanges.

• Defending his vote, Biss said he supported the tax breaks for a “fundamentally extremely mobile business” like a financial exchange to keep the tax-generating business from leaving the state.

• Financial exchanges are still “fundamentally extremely mobile,” so when and why did Dan Biss change his mind?

###