Tax incentive bill may have something for everyone
A bill with tax incentives for big companies and working families is expected to come before the Illinois legislature next week. It's been dubbed a "Christmas Tree" bill because it's got a little something for everyone.
The bill started out as tax incentive to persuade corporations like Sears and CME to stay in Illinois. But Democrats want to add tax incentives for individuals and working class families. Republicans want to add tax incentives for small businesses. Meantime, Ill. Gov. Pat Quinn wants to make sure it all passes.
"You know it has to be a reasonable bill - it can't be overloaded. So we'll sit down over the next few days and hopefully come up with a good proposal to get some majority support," Quinn said in a news conference on Tuesday.
Sears has threatened to leave the state if a new tax package isn't passed soon. If the legislature can't pass a bill next week, it'll have to wait until lawmakers return in January.