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State Legislature Will Talk Tax Cuts Again

By WEEK Producer
December 8, 2011 Updated Dec 9, 2011 at 11:01 AM CDT

BLOOMINGTON, Ill. -- Lawmakers in Springfield next week will again wrestle with a proposal to cut taxes for Illinois businesses.

The General Assembly will convene Monday to debate extending tax breaks to companies like Sears that are threatening to leave the state.

The Chicago mercantile exchanges would also get tax breaks worth about $100 million.

"There's a threat that a few major businesses will leave our state, Sears, CME and others," said State Representative Jason Barickman (R - 105th District). "There's an extreme interest by all of us in Springfield to retain as many jobs as we can in our state. The big question is what's the solution? Some have proposed a tax deal that will bring relief to those individual companies. others, like myself, are demanding that we have broader tax relief that does not result in the government picking winners and losers."

The tax cut proposal to be discussed Monday also includes breaks for small business and low-income working families.

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