* Let’s get to the budget stories, shall we?

The pension fund skim is actually a lot higher than the $2.8 billion listed in this story if you include Fiscal Year 2011…

Quinn wants to hike individual and corporate income taxes by more than $3.2 billion next year, with the individual rate rising from 3 percent to 4.5 percent and the business rate climbing from 4.8 percent to 7.2 percent.

Another $2.8 billion in new cash would come from reducing pension benefits for new state employees, then using that savings to cut what the state needs to pay into the pension systems this year and next.

We weren’t given a full list of these cuts, but we’ll know more by noon or so…

State spending would be shaved by $1.3 billion. State workers — other than those who work directly with patients or in public safety — would have to take four furlough days each, estimated to save $36 million. Health insurance costs for employees and retirees would rise by $200 million.

The Illinois Historic Preservation Agency would be folded into the Department of Natural Resources. Quinn also would not reopen about a dozen shuttered state historic sites, including the Dana-Thomas House in Springfield.

More on the furloughs…

Nearly all state employees, except those working in public-safety jobs or who provide direct patient care, would have to take four furlough days, one for each quarter of the year. That would cut an estimated $36 million in costs to state government, according to Quinn’s administration.

Jerry Stermer, Quinn’s chief of staff, said university employees also wouldn’t be required to take furlough days.

* This is something that wasn’t leaked earlier…

The governor also is proposing a 10-day sales tax “holiday” that would eliminate the 5 percent state sales tax in August on back-to-school purchases.

* Most of the tax talk has centered around the “50 percent increase” figure and the “half of all taxpayers will actually see no increase or a tax cut” claim. But if you’re single, or you are married or are single with one dependent, your taxes will go up even at lower income levels…

SINGLE

• $30,000: $768 now, $972 proposed, up $204

• $45,000: $1,182 now, $1,593 proposed, up $441

• $60,900: $1,621 now, $2,251 proposed, up $630

• $75,000: $2,010 now, $2,835 proposed, up $825

• $100,000: 2,700 now, $3,870 proposed, up $1,170

MARRIED WITH NO CHILDREN or SINGLE WITH ONE CHILD

• $30,000: $708 now, $702 proposed, down $6

• $45,000: $1,122 now, $1,323 proposed, up $201

• $60,900: $1,561 now, $1,981 proposed, up $420

• $75,000: $1,950 now, $2,565 proposed, up $615

• $100,000: $2,640 now, $3,600 proposed, up $960

* Pension changes…

Maintain the “defined benefit” plan, but new employees would receive fewer benefits.

Employees would increase their contributions by 2 percentage points.

Cost-of-living adjustments would be readjusted to 50 percent of the consumer price index or 3 percent, whichever is lower.

Similar to the Social Security system, retirement age for new employees would be 67.

Employees covered by Social Security would earn 1.5 percent of their final pay per year of service. Employees not covered by Social Security would earn 2 percent.

Estimated savings by the new system: $162 billion by 2045.

…Adding… Just to be clear, these pension changes also apply to workers in the Teachers Retirement System.

* Capital plan…

Quinn is considering $20-a-year hike in license plate sticker fees, which would rise to $99 on July 1, and increasing the driver’s license fee to $20 from $10 now, according to information provided to lawmakers.
[…]

His proposal for a $26 billion construction plan dubbed “Illinois Jobs Now!” is aimed at creating 340,000 jobs over several years. Quinn’s predecessor…

Under the plan, $14 billion would be targeted for bridges and roads, $4.6 billion for mass transit, $4.2 billion for school construction and $971 million would be set aside for $971 million. One of the more contentious provisions of the construction program is that Quinn wants pay for it through increasing fees for drivers licenses and license plate fees to pay for transportation-related improvements while using 10 percent of the new income tax revenue to pay for school construction and other “economic development” projects around the state.

* Related…

* Kadner: Quinn budget to include 3rd airport land fund

* Illinois Governor’s Budget Address Today

* Illinois Governor Gives More Details on Budget

* What Quinn’s budget may cost you

* How Quinn tax plan would affect different families

* Quinn Set To Unveil Budget, Tax Hikes

* Higher taxes, fees in plan to balance Illinois budget

* Quinn To Call For 50% Income Tax Hike

* ‘Drastic cuts,’ tax increase in budget plan

* Quinn using tax breaks to soften increase

* Quinn to suburbs: Someone’s got to pay

* Share the wealth and spread the pain

* Smokers might bear brunt of Illinois budget fix

* Quinn proposes extra $1 in taxes on cigarettes to raise money

* Quinn trying to sell tax hikes, fee increases in budget address

* Analysis: Quinn making most of his opportunity

* Quinn budget to include airport land fund

* Quinn considering sales tax holiday for back-to-school shopping

* Quinn’s budget speech: Good news/bad news for preserving the past

* Tribune obtains Quinn’s state budget proposal

* Quinn wants to up driver fees to fund construction

* Will state tax hike make economy worse?

* Durkin: Lease Lottery, Avoid Tax Hike

* Radogno to gov: Tax hikes last option, not first choice

* Ill. Republicans to keep open mind on tax hike

* Daley Refuses to Weigh-in On Tax Hike

* Pension problems

* Deadbeat Illinois shouldn’t miss out on extra cash