State lawmakers push for tax relief package

November 4, 2011

By Michell Eloy

(Photo: Michell Eloy)
John Cullerton speaks at an event on Nov. 14, 2011.

Legislative leaders in Illinois are trying to put together a tax relief package to keep some big companies in Illinois.

They have until Thursday to pass a bill that could give more tax incentives to companies like Sears and Chicago-based CME Group, which have threatened to leave the state since the corproate tax increase went into effect at the beginning of this year.

Senate President John Cullerton says he'll meet with his fellow Democrats early this week to outline some points leaders of both Democrat and Republican leaders say they want included in the package. Cullerton says the final deal should include tax breaks for both businesses and individuals.

"We need a more progressive tax system," said Cullerton, "so those principles will all need to be embodied in a bill, and we're working on those negotiations."

Cullerton and other legislative leaders met with the governor twice last week to discuss the potential tax package.

Week two of the veto session is scheduled to begin Tuesday.