With Governor Pat Quinn expected to address Illinois’ nearly $8
billion in unpaid bills during his annual budget speech today, some
Chicagoans are calling on him to close three corporate tax loopholes.
A group of about 50 protestors belonging to Southsiders Organized for
Unity and Liberation and other organizations gathered outside the State
of Illinois building Tuesday afternoon to deliver a new fiscal policy report to the governor’s office.
“In the tradition of Carnival, today is called Fat Tuesday and tomorrow
is Ash Wednesday,” Rev. Marilyn Pagán-Banks, a member of Northside P.O.W.E.R.,
said at the protest. “Today we are calling on Illinois’ fat cats, these
corporate persons, to get their greed out of their system so that
tomorrow they can repent.”
The Chicago City Council passed a law today that will subtract a
person’s outstanding parking and speeding ticket debt, and other such
citations, from their state income tax return. The law is revealing of
Mayor Rahm Emanuel’s approach toward taxes.
The Chicago Tea Party may not like many things – taxes, Mitt Romney,
even the Republican Party. But the Tea Party did like a video made by
Andrew Marcus, which champions Chicago Mayor Rahm Emanuel’s education
Marcus, director of the video,
“A Tale of Two Missions,” produced by the Michigan-based Education
Action Group, was the featured speaker
at a Chicago Tea Party event downtown tonight.
Illinois Gov. Pat Quinn’s “State of the State” speech today
optimistically focused on ways state government can spur job creation
and saved a dreary examination of state finances for the governor’s
February 22 budget address.
The city announced that CME Group, Inc. financial exchange
elected to turn down $15 million in Tax Increment Financing, or TIF,
The announcement came the same day that the Mayor’s office announced
TIF reform and two other companies – CNA Group and Bank of America –
also returned TIF money. Moreover, CME Group's announcement comes after Stand Up! Chicago delivered a golden toilet to the company’s downtown headquarters last week, partly in protest of their tax incentives.