* Kurt Erickson quotes Speaker Madigan…
The powerful Democrat from Chicago chided reporters for suggesting he would be twisting arms in the coming days, saying that’s not how he plans to win support for what amounts to an election year tax increase.
“We’re not in the business of issuing threats,” Madigan said.
He doesn’t need to issue threats. People know what to expect.
* Meanwhile, Greg Hinz…
So how seriously should you take Illinois House Speaker Mike Madigan’s proposal yesterday to rein in the state’s main job incentive program, so-called EDGE tax credits?
The answer likely depends on just how many votes the speaker has — or still needs — to pass a permanent extension of the state’s “temporary” income tax hike in the waning days of the General Assembly’s spring session. And on who might be inclined to provide those votes.
According to a variety of well-placed sources, revamping the Economic Development for a Growing Economy credits is one of a series of still-moving pieces on the wider income tax chessboard. Also reportedly in play are a possible cut in the state’s corporate income tax rate, an increase in the earned income tax credit for working families, Gov. Pat Quinn’s proposed $500-a-home property tax “refund,” and a permanent extension of the tax credit for research and development.
* The Question: Will Speaker Madigan pass the tax hike extension? Take the poll and then explain your answer in comments, please.