Everyday people need help when it comes to tax relief, not just big business, says Gov. Pat Quinn. Quinn says there can’t be tax relief for Chicago’s major financial exchanges without help for “everyday people.” He has suggested expanding the earned income tax credit, which helps low-income workers, as part of discussions about a broader jobs package he’s having with lawmakers.
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Quinn and the state’s four legislative leaders are scheduled to meet again Thursday) ahead of the second week of the fall Veto Session, which runs Nov. 8-10. Lawmakers are interested in tweaking how electronic financial transactions are taxed to give some relief to the highly profitable exchanges, which have threatened to move their headquarters out of Illinois. But some lawmakers have said the measure must be part of a larger deal that offers relief to Illinoisans and employers around the state.