Davidsmeyer Hits Back at Quantum Computing Tax Credit

By Benjamin Cox on May 31, 2024 at 2:59pm

State Representative C.D. Davidsmeyer says the State of Illinois continues to foster big business while holding down small businesses.

While speaking on a Democrat-sponsored bill which aims to make Illinois a national leader in quantum computing on Tuesday night, Davidsmeyer wanted to reiterate an argument he previously made on the bill when it first passed the House early on in the legislative session.

House Bill 5005 includes a Quantum Computing Campus Enterprise Zone Tax Credit for 20% for full and part-time construction workers. It also extends the state’s Research and Development Credit, and reinforces incentives for battery storage facilities.

Davidsmeyer says it’s nothing but a corporate bailout: “[We’re handing out] corporate bailouts instead of taking care of the real job providers in the State of Illinois that are our small businesses and our [self-employed] individuals. So, by voting for this, you’re voting for big business bailouts at the expense of our small businesses that are struggling to get by.”

Davidsmeyer said Illinois continues to tax small businesses and individuals in the state so it can hand out large sums of money and tax breaks to other, bigger businesses, some of which that are not corporately-based in the state.

The bill passed the House chamber after concurrence 90-19. It now heads to the governor’s desk.