Income Tax Hike
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.
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.
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.
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.
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.
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.
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.
With many states trying to lure away Illinois businesses in the wake of a state income tax hike, Illinois lawmakers are moving to force companies that work for Illinois government to promise not to move out of the state.
An Illinois trade show marketing firm is moving across the state line to Wisconsin in the wake of a major income tax hike.
A new report from the University of Illinois on Wednesday said that the income tax hike recently approved by Gov. Pat Quinn and the General Assembly is not enough of a solution to the state’s $15 billion deficit.
A former Illinois state lawmaker was given an $86,000 state job after she voted in favor of a major income tax hike backed by Gov. Pat Quinn, but she and the governor’s office say there’s no connection.
Now that Gov. Pat Quinn has signed the Illinois income tax hike into law, you will soon see the effects in your paychecks, and you’re going to owe for the first two weeks of the year too.
There are at least two campaigns to recall Gov. Pat Quinn over the personal and corporate income tax hikes.
Mayoral candidate Carol Moseley Braun is blasting the Illinois General Assembly’s approval of a massive income tax hike.
Some local businesses were warning of potential cutbacks and layoffs – perhaps even moving out of state – in light of a looming income tax hike in Illinois.
Gov. Pat Quinn is defending his support for a massive income tax increase, saying the state was facing a crisis and “we had to take decisive action.”
A plan to raise income taxes in Illinois has passed its first test in Springfield, winning support of a House committee, sending the measure to the full House for a vote.
The Better Government Association describes the income tax hike being cooked up in Springfield as “closed-door backroom dealing.”
Lawmakers in Springfield still cannot come to an agreement on whether to increase the state income tax before the new Illinois General Assembly is sworn in later this week.
Even if state lawmakers approve a major income tax hike as Gov. Pat Quinn is inaugurated for his first elected term, the state’s budget problems will last long after he’s sworn in on Monday.