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Local Business Owners Worry About Governor's Plan

Updated: March 12, 2007
flagGovernor Blagojevich's budget proposal has some business owners worried. Parts of the plan include a gross receipt tax, which would mean each and every sale a corporation makes would be taxed. Blagojevich says small businesses, earning less than one million dollars a year would be exempt, but local shop owners say that doesn't mean their in the clear. The Governor also says 75 percent of Illinois businesses will be exempt from the tax. They say large companies, their suppliers will try to offset the tax by raising their prices. That will then force small businesses to pay and charge more, just to break even. Laura Weis, CEO of the Champaign County Chamber of Commerce says consumers also need to keep an eye on this proposal. She says it may seem unimportant now, but a small increase for goods and services could also hit you hard in  the pocket and make Illinois an undesirable place for future business to come.

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