Chamber Testifies at Cook County Finance Meeting
On October 26, the Chicagoland Chamber of Commerce testified at a meeting of the Cook County Finance Committee on Cook County President Toni Preckwinkle’s proposed fiscal year 2013 budget.
Michael Mini, Chamber Vice President of Public Policy, commended the work of President Preckwinkle and the Board of Commissioners for including the final quarter percent of the sales tax rollback scheduled to be completely phased out on January 1, 2013. The sales tax rollback is estimated to save Cook County businesses and consumers nearly $87 million dollars next year.
The Chamber did caution the County Commissioners on the proposed tax increases included in the proposed budget, especially in the fragile economic recovery. The Chamber also raised concern about one potential tax increase on non-titled personal property which, as proposed, could be in violation of the state’s constitution. The Chamber is working with the President’s office to address the concerns of the business community with the tax increases.
Click here to read the full testimony.