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* The Metropolitan Mayors Caucus, a group founded by Chicago Mayor Richard M. Daley, is set to propose raising the income tax on “people” from 3 percent to 5 percent and hike the corporate income tax rate from the current 4.8 percent to 8 percent, according to Southtown columnist Phil Kadner.
The group wants to raise $7 billion in new revenue with $2.1 billion earmarked to increase the per pupil foundation level and another $3 billion set aside for property tax relief. […]
“Specifically, the principles call for having the State of Illinois fund at least 51 percent of the cost of funding education in a way that guarantees an increase in education funding from year to year; reducing the reliance on local property sources as a source of funding; and directing a significant portion of new state education dollars to provide greater state funding to under-funded school districts by raising the per pupil foundation level.” […]
However, the memo states, “… the caucus is open to other funding mechanisms, such as combining a lower income tax increase with either a sales tax increase or an expansion of the sales tax base.” […]
The mayors’ proposal sets aside millions in new dollars for special education funding, as well as early childhood education. It also earmarks $500 million to alleviate the deficits in the pension funds for state and City of Chicago teachers.
* Meanwhile, a Tribune-backed “Burnham Plan” for schools is pushed in the paper’s editorial page today…
The plan calls for a better data system to measure student gains and determine teacher and principal effectiveness. It outlines a streamlined process for dismissing inadequate teachers. It proposes a statewide group to drive an Illinois education agenda going forward. It establishes financial rewards for excellent teachers and schools.
Also included: intensive mentoring and induction programs for teachers and principals; financial training for school board members; easier routes to alternative teaching certification for career-switchers; an expansion of the number of charter schools permitted in Illinois; and better reimbursement to districts for costly special education programs.
The plan calls for a pool of money schools could tap if they spend it on research-proven, high-impact strategies: reduced class sizes; smaller schools; longer school days and school years; and parent involvement programs.
* More tax and spend items, compiled by Paul…
* Editorial: Universal health care fails political litmus test
* Expert says nationwide system could save health care
* Editorial: Budget rhetoric leaves us with too many questions
* FOP President: Invest in ‘preschool for all’ for a more secure future
* Uncertainly rules in Springfield as officials face tough issues
* Editorial: Wanted: A strong leader
* Illinois higher education funding dwindles
posted by Rich Miller
Monday, May 21, 07 @ 9:34 am
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So, the mayors want to raise our income taxes by 67%.
How much of a cut do they want for themselves?
Comment by Cal Skinner Monday, May 21, 07 @ 10:14 am
I knew there was a reason I voted for Topinka.
Hey liberals out there, all of you who voted for Hairboy: don’t you get the suspicion we’d be much more in shape for an income tax and a corporate tax hike, and a big boost for school funding, if we’d have put Judy in there instead of Rod?
Comment by ZC Monday, May 21, 07 @ 2:23 pm
Does Daley have his veto proof General Assembly arranged yet? Either that, what dirt does the King of Chicago have on POA?
Comment by Huh? Monday, May 21, 07 @ 6:22 pm
How does this differ than HB 750?
Honestly, I don’t know.
Comment by anon Monday, May 21, 07 @ 9:08 pm