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Illinois House rejects business tax incentives

Posted by wlpo on November 29, 2011

SPRINGFIELD, Ill. (AP) – The Illinois House overwhelmingly rejected a 250 million dollar package of tax breaks meant to help businesses and keep several major companies from leaving the state.

Only eight people voted for the package, while 99 opposed it today.

The financial exchange company CME Group Inc. and Sears Holdings Corp. have threatened to leave if they don’t get some tax relief.

Other companies across the state could benefit from an array of smaller tax credits in the bill. It also includes relief for individual taxpayers and low-income workers.

It passed the Senate earlier.

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