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Posted by Barton Lorimor
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.
posted by Rich Miller
Friday, Jan 7, 11 @ 12:11 am
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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.
Comment by Publius Thursday, Jan 6, 11 @ 8:32 pm
Actually it’s over a 75% increase in the income tax.
Comment by Fed up Thursday, Jan 6, 11 @ 8:52 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?
Comment by JustMe Thursday, Jan 6, 11 @ 9:02 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?
Comment by GoldCoastConservative 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.
Comment by Angry Chicagoan Thursday, Jan 6, 11 @ 11:06 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.
Comment by DuPage 14th Thursday, Jan 6, 11 @ 11:25 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.
Comment by Yellow Dog Democrat Thursday, Jan 6, 11 @ 11:36 pm
Angry Chicagoan, I’m not sure that landlords will get this rebate. We’ll see
Comment by Rich Miller Friday, Jan 7, 11 @ 2:12 am