Gov. Blagojevich considering major new business tax

Associated Press Writer SPRINGFIELD - The biggest overhaul of Illinois taxes in decades could be on the agenda when Gov. Rod Blagojevich delivers his State of the State address and budget proposal Wednesday. The administration is considering a call to create a new tax on business transactions - a &#8220gross receipts tax.” It could be coupled with a move to end the state's corporate income tax. The tax would generate billions of dollars without taking money directly from voters' wallets the way an increase in income or sales taxes would. Still, it could end up being the single biggest tax increase in Illinois history. Business groups are already gearing up to fight the idea if it surfaces, arguing that it would hurt the economy and, indirec