Business groups complain about Illinois taxes

July 19, 2011

The Associated Press

Illinois Gov. Pat Quinn confers with Illinois Sen. President John Cullerton at the Illinois State Capitol.

Business groups are complaining to lawmakers about taxes in Illinois.

The first in a series of hearings on the state's tax structure was held Tuesday in Chicago.

Senate President John Cullerton and House Speaker Michael Madigan called for the hearings after major companies, including Caterpillar and the CME Group, said they might consider leaving the state over taxes and the business climate.

Business groups say they're optimistic something will come out of the hearings, which will be held around the state.

One outcome they're looking for is a reduction in the state's corporate tax rate, which was recently raised to 7 percent.

Business groups also say they want other tax credits and incentives expanded.