Bolting Blue Cities: Major Firms Vow To LEAVE Chicago Amid WOKE Policies, High Crime, Higher Taxes
Chicago’s new woke mayor is signed in and vows to tax the rich and big business to pay for progressive agenda – as major firms vow to PULL OUT of city (Daily Mail)
- Mayor Brandon Johnson beat out more moderate Chicago schools CEO Paul Vallas this month to earn the spot
- On a podcast, the CEO of the country’s foremost financial derivatives exchange voiced distaste over taxes planned by the 47-year-old former union organizer
- Speaking roughly 24 hours before a ceremony that will see Johnson succeed his similarly aligned predecessor, Terry Duffy said CME Inc. is set to leave the city
Companies are already vowing to leave Chicago over additional taxes promised by its new mayor – a progressive newcomer tasked with addressing the city’s dwindling image under predecessor Lori Lightfoot.
Sworn in early Monday, Mayor-elect Brandon Johnson beat out more moderate Chicago schools CEO Paul Vallas earlier this month to earn the hallowed spot – something business leaders like CME Group Inc are already peeved about.
CME CEO Duffy Says Firm Is Prepared to Leave Chicago ‘If We Had To’
‘Ill-conceived policy’ could see the exchange’s leases voided.
CME Group Inc. is prepared to leave Chicago if the city and state take steps that are perceived as “ill-conceived,” Chief Executive Officer Terry Duffy said in an interview.
Duffy’s remarks, made in an episode of the Odd Lots podcast, come as Mayor Brandon Johnson is being sworn into office after proposing additional taxes, including one on financial transactions, to help boost the city’s revenue. That plan was fiercely opposed by Chicago’s exchanges and investment firms. A higher levy would also require state approval to pass.
“Mr. Johnson has no legal authority to impose a transaction tax on my business,” said Duffy, adding that fighting crime should be a bigger focus for the new mayor. He also shouldn’t “get too bogged down on how he’s going to short-term think he’s go……
EDITORS NOTE: This Geller Report is republished with permission. ©All rights reserved.
Leave a ReplyWant to join the discussion?
Feel free to contribute!