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[quote]QUOTE: Originally posted by wallyworld Really a shame..what's next, heaven forbid...tax truckers? [/quote] if you read the entire article, he's attempting to lift the tax-break on all non-highway traffic, this not only includes railroads, but also any comercial shipping that occurs on the Illinois rivers, uses any Illinois ports on the missisippi and Lake michigan. And actually it's about time the railsroads stopped getting 100% exemption on Deisel tax, although a complete lift seems a bit harsh, 1 or 1.5% would have sufficed. To many Business's get tax breaks, this in turn means John Q. Public has to pay more taxes to make up the lost revenue that Business's buy exemptions from at fractions of what they'd pay normally. Think about it, a Big Business, like say UP, makes several million in profit a year, yet most pay less than $100K a year in taxes due to all their tax breaks. if they paid the same amount the Citizens do, they'd be paying more like $1-2 million in taxes and still have a hefty profit line. Start looking at the Anual Reports of those 4 railroads complaining, they will pay about 50-60% of the $74 million (the rest will be made up by the various shortlines), if they pay the full 2.5% Deisel tax and see how that really affects them. that's $37-44 Million, or $9.25-11 Million each. I highly doubt it'll put a major dent in their profits. In Looking at UP's Anual report for 2003 (as i'm sure the Governor's Office did on all the railrods), UP had a Net Income of $1.585 Billion in 2003, that's profits folks, I hardly doubt $37-44 Million will dent that. Jay
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