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Biz Tax Breaks Fail To Advance In Springfield

Thu, 07 Nov 2013 13:43:08 CST
By: AP

The Illinois Senate has adjourned its fall session without voting on tax breaks for Archer Daniels Midland Company or the newly merged OfficeMax and Office Depot. Sen. Tom Cullerton is sponsor of the bill to give up to $53 million in tax breaks to Office Depot Inc., which emerged from the merger of Naperville-based OfficeMax and Florida-based Office Depot. He expects lawmakers will return to Springfield in December to deal with the state pension crisis. Cullerton says some legislators wanted to wait to give out tax breaks until after they'd passed pension reform. Sen. Andy Manar is sponsor of the ADM bill. He says he feels progress has been made on the $30 million ADM bill. The incentives are aimed at getting the companies to keep their headquarters in Illinois.

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