-By Illinois Congressman Peter Roskam, GOP Chief Deputy Whip
Note: Caterpillar CEO Doug Oberhelman will testify before the Ways & Means Trade Subcommittee today.
Illinois and other states have recently made headlines for their declining populations. Whether they realize it or not, what states like Illinois are learning the hard way is that over-taxing and over-regulating has consequences. And Illinois is now learning that one painful consequence is job loss.
Caterpillar, a Fortune 500 company that employs 23,000 workers in Illinois, currently finds itself dealing with a new tax increase in an already over-taxed state. Their CEO, Doug Oberhelman, sent a warning shot on March 21st with a letter to Illinois’ new Democrat Governor Pat Quinn:
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Rep. Peter Roskam: High Taxes Have Consequences”