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Cullerton explains income tax increase deal
Friday, Jan 7, 2011 - Posted by Rich Miller [Bumped up for visibility] Senate President John Cullerton held a media availability in his office to explain the deal reached among Democratic leaders. The deal includes a 2.25 percentage point increase to the state’s individual income tax rate.
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- Publius - Thursday, Jan 6, 11 @ 8:32 pm:
Makes sense to me, I would vote for it if I could. We are out of options and this is the only one we have left.
- Fed up - Thursday, Jan 6, 11 @ 8:52 pm:
Actually it’s over a 75% increase in the income tax.
- JustMe - Thursday, Jan 6, 11 @ 9:02 pm:
They really worked this out with well-sharpened pencils. C’mon, Senator, is the permanent increase 3/8% or 3/4% and is the temporary increas just under 2% or 2.25%? Or did the numbers actually change during the interview?
- GoldCoastConservative - Thursday, Jan 6, 11 @ 11:06 pm:
Wow. Didn’t hear a word about cutting spending. So the taxpayers of Illinois will be paying about 80% more in taxes tomorrow for the same government that exists today. What Liberals continue to crow (incorrectly) about our state’s relatively “low” tax burden?
- Angry Chicagoan - Thursday, Jan 6, 11 @ 11:06 pm:
A tough change for the middle class and absolutely brutal for renters if there isn’t any Minnesota-style rent deduction on the tax, as the chances of landlords passing on lower property taxes are, I suspect, pretty minimal. The politicians who let things go so far that they had to do this, above all Michael Madigan, have a lot to answer for.
- DuPage 14th - Thursday, Jan 6, 11 @ 11:25 pm:
Angy,
The landlord will get a single $325 check in exchange for paying 1/4 percent more in income tax. Tell me exactly what there is to redistribute to renters? The property tax ‘relief’ portion of this is pure redistribution of wealth.
- Yellow Dog Democrat - Thursday, Jan 6, 11 @ 11:36 pm:
@Goldcoast -
Where have you and the rest of the Dittoheads been for the past two years? We’ve cut nearly $3 billion from the state budget.
- Rich Miller - Friday, Jan 7, 11 @ 2:12 am:
Angry Chicagoan, I’m not sure that landlords will get this rebate. We’ll see