With no tax savings measure on the books, Sears says it still plans to make a decision on relocation by the end of the year. Gov. Pat Quinn says there is still time to come up with a deal. Quinn says he favors a deal passed through the state Senate which offers tax breaks to Hoffman Estates-based Sears and the CME Group, owner of the Chicago Mercantile Exchange. The problem is that the measure failed to pass in the House, leaving the fate of both companies hanging. But Quinn believes a deal can be reached this month.
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“The bill that passed the Senate, a bipartisan bill that had 36 votes including nine Republicans, that’s a good bill and I supported that and I think the House should take another look at it and I think that the proposed help for Sears is more than adequate to keep them here and I hope we can put the movement together this month to get that job done,” Quinn said. Quinn says he has no interest in entering into a bidding war with Ohio, which has offered Sears $400 million in tax incentives, word of which came out over two weeks ago. “I think our proposal is more than fair right now for Sears,” Quinn said. He acknowledges that some “tinkering” might be needed to get a bill through the House. While he didn’t mention specifics, Quinn has been pushing for higher tax credits for working families.