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State Group Says Health Care Reform Could Hurt Illinois Economy
The details of national healthcare reform could hurt the Illinois economy, according to the budgeting arm of the state legislature.

The Illinois Commission on Government Forecasting and Accountability had built in a 10 percent increase in corporate income tax into next year's budget projections, but will have to lower that if big Illinois companies' fears about healthcare reform come true. Three employers -- Caterpillar, Deere and Company, and AT&T -- have all said that they'll take a hit because of lost tax credits, which could mean between $100 million and $1 billion to their bottom line.

CGFA executive director Dan Long says he and his staff are pouring over the new law's details, just like every other group is, and says if those loss claims are valid, those companies could decide against hiring, or even decide to move some operations to other countries. He says either would mean the Illinois economy would recover more slowly.

(Illinois Radio Network)
04 09 10 by Newsroom
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