Business groups blast Quinn's plan to close 'corporate loopholes'
Business groups on Wednesday continued their opposition to Democratic Gov. Pat Quinn's proposal to raise corporate taxes by $445 million a year, even as supporters touted the benefits of using the money to help pay down the state's nearly $9 billion backlog of unpaid bills.
The governor's measure would end several tax incentives that some describe as "corporate loopholes." Quinn's office argues that the business tax breaks are outdated and should be repealed to bring in much-needed revenue for the state, which continues to face budget struggles despite a major income tax increase... read more
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