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Income Tax Hike

Republican candidate for governor Bruce Rauner discusses plans to revamp property, income, and sales taxes in Illinois. (Credit: Craig Dellimore/CBS)

Rauner Announces Plan To Overhaul Income, Property, Sales Taxes

Republican candidate for governor Bruce Rauner on Thursday offered a plan to revamp the state’s tax system, and voiced support for raising the minimum wage, coupled with business reforms.

07/17/2014

Illinois State Capitol

Topinka: Looming $2B Drop In Revenue A ‘Heart Attack’ For State Finances

Illinois Comptroller Judy Baar Topinka is warning of “a $2 billion collapse” next year when the state’s temporary income tax increase begins to roll back.

07/09/2014

Illinois State Senate

State Lawmakers Continue 2015 Budget Talks

Illinois lawmakers continued to grapple Wednesday with a new state budget, as Republicans ripped majority Democrats for spending beyond their means with a plan even Democrats acknowledge leaves “big unanswered questions” about the state’s finances.

05/29/2014

Illinois State Capitol

Illinois House Advances 2015 Budget

Having given up on extending Illinois’ temporary income tax increase — at least for now — the Illinois Legislature is moving forward with a scaled-back budget that could lead to layoffs, further delays in paying the state’s bills and a post-election vote to make the tax hike permanent or generate some other source of revenue.

05/27/2014

Illinois House Of Representatives

Democrats Regroup, Craft Budget Without Higher Tax

House Speaker Michael Madigan emerged from a Memorial Day caucus meeting and told reporters that he was dropping the idea of making the 5 percent income tax permanent — and crafting a budget blueprint that holds the line on spending but is not the “doomsday” plan the House overwhelmingly rejected on Friday.

05/27/2014

Illinois State Capitol

Vallas Slams Rauner For Not Proposing Budget Plan

“He’s basically taking this position of opposing the governor’s budget, without offering anything – ANYTHING – in its place,” Vallas said.

05/21/2014

Illinois House Of Representatives

House Democrats ‘Significantly’ Short Of Votes For Tax Hike

Illinois Gov. Pat Quinn tried Monday to persuade House Democrats to extend the state’s temporary income tax increase to avoid what he says would be “savage” budget cuts, but emerged from a roughly three-hour meeting with lawmakers still well short of the votes he needs for approval.

05/20/2014

Illinois House Of Representatives

Madigan: Budget Vote Helps With Tax Increase

House Speaker Michael Madigan said Wednesday that his chamber’s effort to pass a budget without first securing all the needed revenue would aid a push to make an income tax hike permanent, but his colleagues in the Senate were not happy with the unusual move.

05/15/2014

City Hall

Quinn, Emanuel Still At Odds Over Pension Reform

Gov. Pat Quinn’s offer to give cities a bigger cut of income tax revenues to help with pension debts without raising property taxes met with a lukewarm reception from the Emanuel administration.

04/29/2014

Gov. Pat Quinn (right) officially introduces Paul Vallas (left) as his running mate in the 2014 election. (Credit: CBS)

Vallas Defends Quinn’s Tax Plan, Attacks Rauner

Paul Vallas hit the campaign trail as Gov. Pat Quinn’s running mate on Wednesday, going on the attack against Republican gubernatorial challenger Bruce Rauner for wanting to reduce the state’s income tax, saying it would have a “devastating” impact on schools.

04/02/2014

Illinois House Floor

Madigan’s Plan To Add Tax On Millionaires Advances In House

The day after Illinois Gov. Pat Quinn called for making Illinois’ temporary income tax increase permanent, a proposal to impose an additional tax on millionaires was sent to the House floor Thursday.

03/27/2014

Gov. Pat Quinn presents his annual budget address to the Illinois General Assembly in Springfield on March 26, 2014. (Credit: CBS)

Quinn Proposes Making 2011 Income Tax Hike Permanent

Gov. Pat Quinn outlined his case Wednesday for making Illinois’ temporary income tax increase permanent, predicting “extreme and radical” budget cuts to schools and services without additional revenue.

03/26/2014

Gov. Pat Quinn (Photo by Streeter Lecka/Getty Images)

Quinn To Propose Making 2011 Tax Hike Permanent

Gov. Pat Quinn is expected to propose making Illinois’ temporary income tax increase permanent in order to avoid massive budget cuts when he presents his election year budget address Wednesday, according to lawmakers briefed on his plans.

03/26/2014

Illinois State Capitol

Budget Watchdog Has Plan To Fix State Finances

More than three weeks ahead of the governor’s budget address, a government watchdog group has issued its own plan for bringing state finances back to good health.

03/03/2014

Illinois State Capitol

Government Panel Predicts $1.6B Drop In State Revenue

The drop in revenue reflects an expected decrease in the state’s income tax. The temporary hike is scheduled to drop from its current 5 percent to 3.75 percent next January.

02/05/2014

(Clockwise from top left) Republican candidates for governor Bill Brady, Kirk Dillard, Bruce Rauner, and Dan Rutherford. (Photo illustration by CBS)

Republican Candidates For Governor Debate Taxes, Spending

State Sens. Bill Brady and Kirk Dillard, businessman Bruce Rauner and Treasurer Dan Rutherford faced off in a debate that focused heavily on Illinois’ struggling economy and how to improve its business climate.

02/04/2014

Illinois State Capitol

Child Advocacy Group Warns Of Impact Of Expiring Tax Hike

With a 2011 state income tax increase set to expire at the end of the calendar year, the governor and Illinois lawmakers are facing a huge drop in state revenue, which would affect many social service groups that rely on the state for funding.

01/20/2014

Illinois State Capitol

Small Business Owners Seek ‘Big, Bold Changes’ From State

A lobbying group for Illinois’ small business owners says it’s time for major reforms from state government to improve the state’s deteriorating business climate.

CBS Chicago–01/30/2012

Illinois House Republican Leader Tom Cross (left), Illinois Senate Republican Leader Christine Radogno, (center) and anti-tax advocate Jim Tobin call for a repeal of the state's 2011 income tax hike, with a display of $1,000 in groceries to illustrate the estimated $1,000 a year the tax hike costs Illinois families. (Credit: CBS)

Republicans Slam Democrats On Anniversary Of Income Tax Hike

Marking the first anniversary of the income tax hike approved by Gov. Pat Quinn and the Democrat-controlled legislature, Republican lawmakers hammered Democrats over the tax increase, saying people don’t like it and it’s not working.

CBS Chicago–01/12/2012

Illinois State Capitol

Governor Makes Gloomy Forecast For Ill. Budget

The long-term forecast for the Illinois budget looks gloomy, with less state money available and government services facing cuts, Gov. Pat Quinn’s office said Tuesday.

01/03/2012

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