Sears Holdings Corp. and Chicago’s financial exchanges have quit threatening to pull up stakes now that Illinois has enacted tax breaks for them. But it remains unclear whether state incentives to big companies are wise uses of economic-development resources.
Two weeks after a tax-break bill went down in flames, legislation giving two Illinois companies relief is on its way to Gov. Pat Quinn.The Senate passed a bill today giving Sears and CME Group tax breaks after they threatened to leave the state.
CME Group and suburban-based Sears are one step closer to getting the state tax breaks meant to persuade them to stay headquartered in Illinois.On Monday the Illinois House approved a new tax relief package after it resoundingly rejected a similar measure last month.
Illinois Senate President John Cullerton said he doesn't expect any problems passing a new tax relief package this week.The state House of Representatives is scheduled to meet on Monday to vote on a new package aimed at keeping area-based Sears and CME Group in state after it failed to pass a simila
Illinois House Republican Leader Tom Cross says a deal has been reached on a tax break package to keep locally-based Sears and CME Group in Illinois.The announcement came on Thursday, a few weeks after the House overwhelmingly rejected a similar package.A spokeswoman for Cross said the newer version
Chicago Mayor Rahm Emanuel said he's staying involved in getting the state's major tax package passed. Last week the tax package including incentives for the CME Group was shot down by the Illinois House of Representatives."