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Illinois governor calls for more corporate taxes

Governor Rod Blagojevich.

By Sean Crawford, IL Public Radio


Chicago, Ill. – Illinois Governor Rod Blagojevich is calling for $7 billion in new corporate taxes.

The governor made the announcement in his annual State of the State address in Springfield.

"From 1997 to 2004 48% of corporations with annual sales in Illinois of $50 million or more paid zero corporate income taxes." the governor said.

The biggest tax would apply to all business transactions including auto sales and medical care.

Blagojevich also wants to lease the Illinois lottery.

And he wants to borrow billions of dollars to solve the problems with state's pension system.

State business groups are organizing to oppose the new corporate taxes


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