David Merriman http://wuis.org en Report: Deficit Expected Even If Tax Hike Stays http://wuis.org/post/report-deficit-expected-even-if-tax-hike-stays <p><span style="line-height: 1.5;">&nbsp;&nbsp;</span>Even if Illinois keeps its higher income tax rate, a new report projects the state is headed toward deficit spending.&nbsp;</p><p><span style="line-height: 1.5;">Illinois residents are paying a 5-percent tax on their income. It's been that way since 2011.</span></p><p>According to a new report from the University of Illinois' Institute of Government and Public Affairs, that tax money helped balance Illinois' budget this year.</p><p>But economist David Merriman, who directed the project, says that won't last.</p> Tue, 29 Oct 2013 21:30:37 +0000 Amanda Vinicky 11953 at http://wuis.org Report: Deficit Expected Even If Tax Hike Stays