A Tale of Two States
Two states, heading in opposite directions. Fascinating dueling headlines about Wisconsin and Illinois.
CME's Executive Chairman, Terry Duffy, said the company was exploring a potential move of its corporate base, after Illinois earlier this year sharply lifted the corporate tax rate paid by the Chicago-based exchange company.
llinois gained nationwide notoriety in January when Governor Pat Quinn signed into law a 67% hike in the personal income tax rate while lifting the corporate tax rate to 9.5%, the fourth highest in the nation. How is that working out?
Executives surveyed by Wisconsin's largest business lobbying group overwhelmingly say the state is "going in the right direction," a near-complete reversal of sentiment from a year ago that comes against a backdrop of exceptional political animosity.
The 2011 Economic Outlook Survey from Wisconsin Manufacturers & Commerce shows that business leaders have shifted their views sharply in the aftermath of last year's change of political control in Madison from Democrats to Republicans.
That's no surprise - WMC was a major supporter of Gov. Scott Walker and other Republican candidates. The swing in the numbers is so big, though, it's impossible to ignore.
A year ago, 10% of the survey respondents said they believed Wisconsin was going in the right direction. This year, that number jumped to 88%.