Rauner Announces Plan To Overhaul Income, Property, Sales TaxesRepublican 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.
Topinka: Looming $2B Drop In Revenue A 'Heart Attack' For State FinancesIllinois 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.
State Lawmakers Continue 2015 Budget TalksIllinois 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.
Illinois House Advances 2015 BudgetHaving 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.
Democrats Regroup, Craft Budget Without Higher TaxHouse 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.
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.
House Democrats 'Significantly' Short Of Votes For Tax HikeIllinois 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.
Madigan: Budget Vote Helps With Tax IncreaseHouse 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.
Quinn, Emanuel Still At Odds Over Pension ReformGov. 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.
Vallas Defends Quinn's Tax Plan, Attacks RaunerPaul 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.
Madigan's Plan To Add Tax On Millionaires Advances In HouseThe 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.
Quinn Proposes Making 2011 Income Tax Hike PermanentGov. 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.