Monday's special meeting by the Illinois House was productive on many levels, and benefits both the folks of Sears and the CME group that were seeking tax breaks, but also downstate Illinois  businesses as well.

Part of the negotiating process of the deal was making adjustments to the death tax. Illinois State Representative Chapin Rose some major changes were made to that tax that will certainly benefit small businesses. Rose says it is not fair to those business owners to have the government take their hard earned money away from them.

[audio:taxes1.mp3]A Word From Rep. Rose[/audio]

An addition to the bill was something that will specifically be targeted at small business owners, is the net operating loss. Rose says big companies will not qualify for it. According to Rose, an extension to the Research and Development credit will have a good impact to several companies around Central Illinois as well.

[audio:taxes2.mp3]A Word From Rep. Rose[/audio]

Rose is very pleased with the way the process has gone over the past several months to make adjustments to not just benefit big Chicago businesses, but also the smaller downstate Illinois businesses as well.

[audio:taxes3.mp3]A Word From Rep. Rose[/audio]

The measures past Monday now have to pass the Senate and then will be handed to Governor Pat Quinn before they pass.