New Legislation Puts Spotlight On Corporate Tax Breaks
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CHICAGO (CBS) – Governor Pat Quinn put his signature on a bill that requires the public spotlight on the details of corporate tax breaks as soon as they are completed.
The measure, which was watered down before reaching Quinn’s desk, was sponsored by Marengo Democratic Representative Jack Franks.
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He says the bill is a good start in his campaign to bring more transparency to the granting of corporate tax deals — citing the $100 million tax credit given last year to Motorola Mobility — which was subsequently bought by Google — as particularly egregious.