Businesses Don’t Like Illinois’ Corporate Tax Increase, but Neighboring States So

January 13, 2011  |  

(Chicago Tribune) — While the size of the state corporate income tax hike ultimately was whittled down a bit, Illinois businesses still feel gored, and neighboring states began circling immediately to woo relocations.  The 11th-hour modification “is a joke,” said Ty Fahner, president of the Civic Committee of the Commercial Club ofChicago. “It’s like saying I’m going to hit you hard, and now I’m going to hit you a little. I believe it’s disingenuous and it puts Illinois in a terrible spot in terms of creating or keeping jobs here.” The outcry by business leaders, and even Chicago Mayor Richard Daley, was not lost on neighboring states.

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