Statement from Make Wall Street Pay Illinois on CME Corporate Welfare Bill
Make Wall Street Pay Illinois is encouraged that the General Assembly did not pass the bill that would have handed a massive tax break to just a few of the state’s largest financial corporations. The State of Illinois already cannot pay its own bills. Basic and essential services are being reduced or eliminated throughout the state, and care providers are being laid off. The State simply could not have blown another huge hole in its structural deficit by handing a massive tax break to the wealthiest 1% of our state, and to just a few of the largest financial speculation corporations that are partially responsible for crashing the economy in the first place.
The failure of this piece of corporate welfare opens up possibility for next year. Moving forward, Make Wall Street Pay Illinois calls on the General Assembly to take up the pressing issue of corporate tax reform. If we are serious about our structural budget deficit and making ends meet, we must make sure that the largest and most profitable financial corporations in the state pay their fair share of taxes.