Ill. House committee OKs separate tax-break bills

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SPRINGFIELD, Ill. (AP) — An Illinois House committee has approved a new strategy for passing a major tax relief package.

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SPRINGFIELD, Ill. (AP) — An Illinois House committee has approved a new strategy for passing a major tax relief package.

The Revenue Committee on Monday voted on the package in two separate parts.

The Democratic-controlled panel voted 7-2 to approve tax breaks for Sears and the Chicago Mercantile Exchange. That measure would cost the state about $150 million next year and $218 million the year after that.

Then legislators voted 8-1 on a different bill increasing tax credits for the working poor and raising the personal income-tax exemption.

The full House should vote this afternoon.

Social-service representatives testified the money would be better spent on education and preventing homelessness.

Copyright 2011 The Associated Press.

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