CHICAGO (CBS) — Hear ye, hear ye, the Illinois General Assembly is back at work for the people of Illinois and it’s not doing very well – cutting our services and raising our taxes.
But, for some corporations of Illinois, the Legislature is doing fabulously well. Yes, it’s raising their taxes, too, but then giving them tax breaks – huge tax breaks – to induce them to stay in Illinois and provide jobs.READ MORE: Chaos In The Loop Leads To Shooting, Beatings; 21 Young People Arrested
Motorola, for instance, got a $100 million dollar tax break over the next ten years, in exchange for a promise to keep jobs in Illinois. Well, never mind the promise. Motorola’s about to pink slip 185 employees in its offices in Libertyville.READ MORE: Health Experts Say It's A Matter Of Time Before Omicron Variant Arrives In Illinois
CME Group, owner of the Chicago Board of Trade and the Chicago Mercantile Exchange, and CBOE Holdings, owners of the Chicago Board Options Exchange, also are asking multimillion dollar tax breaks and Gov. Pat Quinn and the lawmakers are working on that.
Oh what, oh what to do? I know what to tell the board, the Merc and the CBOE: no. Give us a break.MORE NEWS: Chicago Weather: Monday Brings Wind, Blast Of Cold Air