Illinois Gov. Pat Quinn is scheduled to meet with legislative leaders again Thursday to continue discussing a possible tax relief deal for businesses.
This is the second time the leaders have met this week to talk about ways to keep companies in Illinois, coming after Sears and CME Group threatened to move out of the state in response to the corporate tax increase that went into effect at the beginning of the year. Quinn met with state House and Senate leaders for two hours on Tuesday, after which Senate Republican leader Christine Radogno of Lemont said they made progress on a bill to create tax breaks for businesses. On Wednesday, the governor said he wanted to use the talks to evaluate the current tax code.
"I think what we need to do is use the occasion to take a look at the Illinois tax code, which is complicated," said Quinn. "And if we can make it fairer to the everyday citizen and to our employers, I'm very interested in that."
Quinn said new revenues could be found if the tax code is re-evaluated. He said he also suggested to lawmakers expanding the earned income tax credit, a federal refund for low-income workers.
The governor says he wants a broader tax relief package rather than one aimed specifically at businesses. Quinn hopes to craft a deal with lawmakers to be introduced in the second week of the veto session, which begins on Nov. 8.