temporary income tax increase

Statehouse
8:14 pm
Mon May 26, 2014

Illinois House Democrats Regroup, Craft Budget Without Higher Tax

Credit WUIS

Illinois House Democrats have given up on extending a temporary income tax increase and have begun working on a scaled-back state spending plan.
 
Speaker Michael Madigan said Monday that House working groups would begin work
on a ``middle-of-the-road'' budget that's in line with a revenue estimate of about $34 billion.
 
Democratic Gov. Pat Quinn wants to make permanent the income-tax increase that's set to roll back in January. It's costing the typical Illinois taxpayer about $1,100 more this year.
 

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Statehouse
3:17 pm
Mon May 19, 2014

Rauner Blasts House Democrats On Budget Process

Bruce Rauner
Credit WUIS

Republican gubernatorial candidate Bruce Rauner is criticizing House Democrats for adopting budget measures without an approved plan to pay for them.  

Rauner talked to reporters in Northbrook Monday as Democratic Gov. Pat Quinn was set to meet with lawmakers in Springfield. The Chicago Sun-Times reports Rauner calls this year's budget process ``playing political games'' and ``showing a lack of leadership''  
 Last week, the House approved budget measures contingent on an income tax increase extension. It rolls back in January, creating a $1.8 billion hole.  

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Statehouse
5:24 pm
Thu May 15, 2014

Temporary Hike Costing Average Taxpayer $1,100 This Year

Credit flickr/scottjwaldron

The temporary income tax hike Illinois lawmakers are considering extending is costing the typical taxpayer about $1,100 more this year, according to calculations by the Governor's Office of Management and
Budget.
 
The 67 percent increase on individuals approved in 2011 is producing about $6.6 billion in additional revenue for the state this year. Democrats promised when they raised the individual rate from 3 percent to 5 percent that it would roll back to 3.75 percent in January 2015. Now Gov. Pat Quinn and legislative

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Statehouse
7:17 am
Mon March 3, 2014

Civic Federation Has Plan To Balance Illinois Budget

Credit Civic Federation

The Civic Federation is releasing a new proposal it says will balance Illinois' budget, eliminate its bill backlog and reduce taxes.  

The plan includes capping spending to help the state pay off its $5.4 billion backlog of unpaid bills over the next five years.  

It also would extend the state's temporary income tax increase by a year before reducing tax rates gradually, and calls for taxing pension and social security income.  

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