SPRINGFIELD, Ill. (WBBM) – A Taxpayers’ Bill of Rights could be added to the Illinois State Constitution.
As WBBM Newsradio 780’s Dave Dahl reports, the bill would be a limit on spending.
LISTEN: Newsradio 780′s Dave Dahl Reports
Illinois House Speaker Michael Madigan (D-Chicago) told a committee how a U.S. Department of Commerce report on personal income is a useful metric.
“If the rate on the income tax and the rate on the sales tax remains the same, why, they should ride pretty well together,” Madigan said. “Clearly, the income tax is predicated upon income. Sales tax is somewhat predicated upon income, presuming that people continue to spend the same amount of money that they spend out of their income today and going forward.”
The measure is a constitutional amendment that could be put before voters in 2012 and take effect the following summer.