Legislation giving tax breaks to CME and Sears passes Senate, fails in the House

SPRINGFIELD, IL – State Sen. Ron Sandack said HB 1883 passed the Senate but failed in the House Tuesday afternoon, when legislators returned to Springfield for a day-long extension of the Fall Veto Session.  Sen. Sandack joined the majority of his Republican colleagues, as well as a few Democrat lawmakers, in voting against the legislation.

HB 1883 would have created tax breaks for the Chicago Mercantile Exchange and Sears. Sandack said that the legislation set the State up for continuing problems.

“I am sympathetic towards CME and Sears, as I am other employers in our state,” Sen. Sandack said.  “I understand their situation; however, this legislation did not reflect good planning or good public policy.  The policies we should create need to be comprehensive, and level the playing field for the businesses in the state—not favor one over the other. I believe HB 1883 would have established a precedent that would have encouraged other big businesses in Illinois to come to Springfield and ask for similar concessions.” 

Sen. Sandack said this legislation is symptomatic of the tax increase that was passed in January and Illinois’ continuing budget woes. 

“I’d much rather pass tax relief across the board for all taxpayers,” Sen. Sandack suggested.  “Picking winners and losers, which is essentially what the legislation did, is bad policy.  Enacting policy that will create favorable environments for employers and employees would help end the problems that Illinois seems to continue to create.  These problems will persist until a new mindset pervades Springfield.”

Shortly after the legislation passed the Senate, the measure failed in the House of Representatives with only eight legislators voting in favor of it.  Uncertainty now exists as to what will happen with any sort of CME or Sears tax break deal.