Critics of a tax package designed to keep Sears and the Chicago Mercantile Exchange in Illinois comes at the expense of other employers. Kim Clarke Maisch, with the National Federation of Independent Businesses, says lawmakers are essentially giving companies special opportunities to become more profitable while leaving others out.
The deal would provide the CME with 85-million dollars a year in incentives. Sears would get 15-million dollars per year over the next decade with an opportunity to an additional grab 150-million dollars. Other changes will allow all businesses to write off losses of up to 100-thousand dollars a year from previous years. It also increases the estate tax exemption and the earned income tax credits for lower and middle class taxpayers.
Kim Clarke Maisch, with the National Federation of Independent Businesses, says lawmakers would be better off focusing on improving tax policy for all businesses rather than on the few who can use their weight to get individual deals.