income tax hike

Statehouse
5:42 pm
Thu November 20, 2014

Cullerton: State Income Tax Hike Won't Be Extended Before New Governor Takes Over

Sen. President John Cullerton
Credit Illinois Senate

Illinois Senate President John Cullerton says lawmakers are heeding Gov.-elect Bruce Rauner's  advice and won't extend the state's temporary income tax increase.
 
Rauner advised lawmakers not to take up any substantive issues before he's
sworn in.
 
Cullerton, a Chicago Democrat, says the Republican Rauner has ``a little honeymoon period'' during his first weeks in office and the Legislature is ``giving him his first victory.''
 

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Statehouse
1:46 am
Thu May 22, 2014

Budget Fight Moves From Taxes To Spending — For Now

Illinois Gov. Pat Quinn has called for permanently setting the state income tax rate at 5 percent.
Credit Brian Mackey/WUIS

Democrats in the Illinois House on Wednesday handed a significant defeat to Governor Pat Quinn. Fewer than half are willing to go along with his push to extend a higher income tax rate. That could mean significant cuts in state spending. Brian Mackey reports on how Democrats backed themselves into this corner, and where they go from here.

Quinn has for two months been asking lawmakers to make 2011’s temporary income tax hike permanent.

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Statehouse
4:49 pm
Wed May 21, 2014

Governor's Tax Plan Fails Among House Democrats

House Speaker Michael Madigan is seen in this December 2013 file photo.
Credit Amanda Vinicky/WUIS

Illinois lawmakers are going back to the drawing board on a state spending plan. Although Gov. Pat Quinn and top Democrats have been pushing for an extension of a higher income tax rate, House Speaker Michael Madigan says there isn't enough support for that.

  With Republicans uniformly opposed to keeping Illinois income tax rate at 5 percent -- instead of letting it drop as scheduled at the end of the year — both Quinn and Madigan have been working to get 60 Democratic members of the House on board.

Then, on Wednesday afternoon, House Democrats met behind closed doors.

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Statehouse
4:49 pm
Tue May 20, 2014

Rauner Wades Deeper Into Tax Debate, But Offers No Budget Plan

Bruce Rauner is robo-calling voters in seven House districts he says are key to the income tax debate.
Credit Brian Mackey/WUIS

Republican candidate for governor Bruce Rauner is wading deeper into the debate over whether Illinois ought to extend a higher income tax rate. He's still refusing to say how he would manage the state budget.

The Rauner campaign says it's making robo-calls to voters in seven House districts. These are key Democrats in the budget debate — most have previously taken positions against the higher tax rate.

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State Week
2:24 pm
Fri May 16, 2014

Listen To State Week - May 16, 2014

Credit Dan LoGrasso / WUIS

This week the Illinois House passed a spending bill that surpasses projected state revenues, leading to more debate over allowing the temporary income tax to expire.  Also, judicial action has put the state's pension overhaul on hold.

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Budget FY15
5:56 am
Fri May 16, 2014

House Democrats Pass Spending Plan (Barely)

Illinois is beginning to work on its budget for Fiscal Year 2015.
Credit wnij

How much you'll pay in state taxes next year remains an open question, even as the Illinois House Thursday approved dozens of spending bills, that rely on a permanently higher tax rate. It sets the stage for a budget battle, just weeks before legislators are set to adjourn for the summer.

The Illinois House convened at 8 o’clock Thursday morning, and spent most of a very long day on the budget. Lawmakers began with a debate on funding Illinois' public education system, giving schools a slight increase over this year.

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Budget FY15
5:02 am
Mon May 12, 2014

State Budget: "It's All In Such A State Of Flux"

Credit Brian Mackey/WUIS

After a weekend break, Senators will return to Springfield this afternoon, as the calendar draws closer to the scheduled May 31 adjournment.

While the end of the month is a key date, it's another one, about a half a year away, that will largely guide much of what happens these next few weeks: the November election.

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Despite Democratic Supermajorities
1:34 pm
Wed April 23, 2014

House Holdup On Tax Hike, Minimum Wage

House Speaker Michael Madigan, D-Chicago

 Two major Democratic initiatives are still short the votes needed to pass, at least in the House, as the General Assembly heads into the final stretch of its spring session.

    

How to deal with Illinois' income tax rate is arguably the biggest issue looming over Illinois politics.

The 5-percent rate is set to rollback in January, but Gov. Pat Quinn wants the higher rate extended permanently, an approach favored by the Democratic leaders of the legislature.

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Fiscal Focus
4:30 pm
Tue October 29, 2013

Report: Deficit Expected Even If Tax Hike Stays

Credit flickr/borman18

  Even if Illinois keeps its higher income tax rate, a new report projects the state is headed toward deficit spending. 

Illinois residents are paying a 5-percent tax on their income. It's been that way since 2011.

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.

But economist David Merriman, who directed the project, says that won't last.

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Pensions
6:15 pm
Thu October 24, 2013

Quinn Not Ready To Talk Taxes

Credit Amanda Vinicky/WUIS

Though he supported Illinois' income tax hike in the past, Governor Pat Quinn is so far unwilling to take a stance on whether it should expire.

This fiscal year, Illinois is putting $6.8 billion toward pensions. An amount that's more than covered by how much money the state took in from a higher income tax rate -- the increase alone is projected to pull in almost $8 billion this year.

But that raises the question: how will Illinois function when the income tax revenues begin to decrease?

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Election 2014
11:13 am
Mon June 3, 2013

Rutherford: Permanent Tax Hike ‘On The Table’

Illinois Treasurer Dan Rutherford (left) greets supporters in Springfield at an event to launch his campaign for governor.
Credit Brian Mackey/WUIS

Monday is day two of state Treasurer Dan Rutherford's three-day tour of Illinois. He's meeting with supporters to say he's officially running for governor. Rutherford has been laying the groundwork to run for years, making the formal announcement one of the least surprising events in Illinois politics. So we asked reporter Brian Mackey to find something about Rutherford's announcement that was surprising.

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