Taxes pushed by CTU-backed group would drive business out of Chicago, company chairman says
A trio of taxes pushed by a coalition of activists and unions would drive business out of Chicago, the head of a digital services company on West Monroe said in a recent statement.
"It's a disastrous policy that will drive the financial institutions and taxpayers out of the city," EKI-Digital Chairman Robert Blackwell Jr. said in his statement. "I think we have enough flight out of Illinois."
Blackwell made his comments shortly after a Crain's Chicago Business report about three taxes supported by Action Center on Race & the Economy (ACRE), which describes itself as "a campaign hub for organizations that work at the intersection of racial justice and Wall Street accountability." The group includes the Chicago Teachers Union and SEIU Healthcare Illinois, according to Crain's report.
ACRE supports not only the "LaSalle Street tax" on financial transactions and a restoration of the employer "head tax," but it also has called for a 3.5 percent tax on households with an annual income above $100,000, according to Crain's report.