Quinn defends business tax increase
Gov. Pat Quinn promised an “ongoing conversation” after the owner of two major futures markets in Chicago suggested the possibility of relocating because of Illinois’ business tax.
Quinn said Thursday the best place for the Chicago Mercantile Exchange and the Chicago Board of Trade is in Chicago.
The CME Group, which owns them along with the New York Mercantile Exchange, said this week it was studying a possible relocation. Illinois increased its corporate and personal income tax rates in January to help deal with a massive budget deficit.
Quinn has offered other businesses incentives to stay in Illinois. He said that’s a discussion he’s willing to have with the CME.
The Chicago Democrat continued to defend the income tax increase.