Indiana Grain Company, LLC

Posted: 11/29/11

By: tomgrisafi

It appears the prospect of CME leaving Illinois and moving next door is rapidly diminishing.

The latest proposal to serve up tax breaks for CME Group and other major local employers is expected to make it to the House floor Tuesday.

"The House Revenue and Finance Committee voted 6-0 to endorse legislation that would give tax relief to Sears Holdings Corp., parent of Sears and Kmart, and CME Group Inc., parent of the Chicago Mercantile Exchange and the Chicago Board of Trade," The Chicago Tribune reported late Monday,

"While the bill scales back the scope and cost of an earlier bill that stalled, it remains clear this $250 million-a-year proposal still faces some hurdles," the report added.

"I'm voting yes in committee but I'm not guaranteeing I'll vote yes on the floor," said House Majority Leader Barbara Flynn Currie, D-Chicago. "I think there are serious questions about the top-heavy nature of this proposition and I think there are serious questions about the issue of whether we ought to just jump when some other state says, 'We're going to steal your businesses away from you.'"

Source: Chicago Tribune

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