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Mayor Pushing Buttons on CME Deal

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Mayor Pushing Buttons on CME Deal

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Mayor Rahm Emanuel prides himself in making things happen.  

Once he got involved in the McCormick Place negotiations with the labor unions, a deal was struck.  It appears CME Group may need the mayor’s arm-twisting expertise in winning tax incentives.   And he's not one to back away from a challenge.

To that end, he made clear Tuesday that he's pushing legislators' buttons to get a deal done.

"We are very close and we are not done until we fix that," he said Wednesday, referring to the General Assembly and Gov. Pat Quinn.

Legislators on Tuesday jettisoned a bill that would have provided a total of $100 million in tax savings for Sears Holding and CME, which owns the Chicago Board of Trade and the Chicago Mercantile Exchange.

The CME -- which pays 6 percent of all corporate taxes in Illinois -- said tax increases implemented this year raised it's obligation to the state by $50 million.

Related Topics Rahm Emanuel
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