Alexi Likes Taxes for Other People

From Kirk for Senate:

Before Alexi Giannoulias Raises Taxes on Illinois Small Business Employers, He Should Make Sure Broadway Bank Pays Its Own Taxes

“At issue is a $10,204.49 Internal Revenue Service tax lien filed against Broadway for alleged underpayment of money owed, plus interest and penalties.” – Crain’s Chicago Business, “New Broadway fallout for Giannoulias — rightly or not,” 4/12/10

“His spokeswoman Kathleen Strand dismissed the issue as a minor amount of money” – Chicago Sun-Times, “Giannoulias tries to change focus from Broadway Bank,” 4/12/10

Statement by campaign spokesperson Kirsten Kukowski: “While Congressman Kirk voted to cut taxes more than 40 times and wants to lower taxes for small businesses, Alexi Giannoulias wants to raise state and federal income tax rates. Before Alexi Giannoulias raises taxes on Illinois families, he should make sure Broadway Bank pays its own taxes first.”

· Yesterday, Crain’s Chicago Business reported that the Internal Revenue Service filed a $10,204.49 tax lien against Broadway Bank for underpayment of money owed.

· According to the report, “Mr. Giannoulias' problem is that the dispute stems from late 2002, when he was a chief loan officer of the bank, and continued through the period before he left the bank in 2006 to run for state treasurer.”

· When asked to respond to the report by the Chicago Sun-Times, Alexi Giannoulias’ spokeswoman “dismissed the issue as a minor amount of money.”

· The Giannoulias campaign’s flippant response to a $10,000 tax lien is reminiscent of Alexi Giannoulias’ previous description of his $2.5 million Broadway Bank dividend payout as “minimal.”

· Despite Broadway Bank’s failure to pay taxes while Alexi Giannoulias served as the bank’s Vice President and Chief Loan Officer, Giannoulias now wants to raise taxes on Illinois families and small businesses:

o Alexi Giannoulias called for a state income tax increase, which would hit Illinois families and small business employers.

o Alexi Giannoulias said he wants to roll back current tax relief and bring back the death tax on small business employers.

o Alexi Giannoulias supported the 12 new federal taxes in the recent health care bill, which the National Federation of Independent Business called “devastating” for small business.

· While Broadway Bank owes money to the IRS, Crain’s Chicago Business reported that the Giannoulias family may file this year to collect between $12 million to $15 million in tax refunds due to the bank’s collapse.