48°FOvercastFull Forecast

Governor candidates differ on overseas tax breaks

Published: Wednesday, July 30, 2014 4:27 p.m. CDT

CHICAGO (AP) — The practice of U.S. corporations reorganizing overseas with foreign entities to cut taxes back home has emerged as an issue in Illinois' gubernatorial race.

Gov. Pat Quinn condemned the practice Wednesday as "unpatriotic." The Democrat says anyone running for public office supporting it is "taking advantage" of taxpayers.

The comment was directed at Republican challenger Bruce Rauner. Rauner told WMAQ-TV this week that the U.S. and Illinois need to compete, not block companies. His campaign later declined to say if Rauner supports the practice.

Much attention has been focused on Deerfield-based Walgreen Co. The company is considering its option to complete a takeover of Swiss retailer Alliance Boots.

Democratic U.S. Sen. Dick Durbin urged the company not to move. His GOP counterparts blocked a bill Wednesday limiting tax breaks.

Get breaking and town-specific news sent to your phone. Sign up for text alerts from the Northwest Herald.

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Reader Poll

How much time do you spend looking at a screen each day?
Less than two hours
From two to four hours
From four to eight hours
More than eight hours