Lawmakers Consider Tax Breaks For Sears, CME
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CHICAGO (CBS) — Illinois lawmakers return to Springfield today to finish the fall veto session.
One of the top items on their agenda is a new package of tax breaks to keep both Sears and the parent company of the Chicago Mercantile Exchange and the Board of Trade in Illinois.
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Both have threatened to leave the state unless they get a deal. The proposal for Sears and CME would include $100 million in breaks. It also requires Sears to maintain 4,000 jobs at its Hoffman Estates headquarters.
A 220-page proposal filed by lawmakers yesterday also includes tax credits for the working poor favored by Gov. Pat Quinn, as well a research and development tax credits for businesses throughout the state.