QUINCY, Ill. (AP) — 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.
The Republican seeking re-election made stops in Quincy and Jacksonville on Tuesday.READ MORE: Cook County Opening 3 Mass Vaccination Sites This Week
Lawmakers approved a temporary income tax hike in 2011. But it’s set to decrease from 5 percent to 3.75 percent in January leaving a big budget hole.
Gov. Pat Quinn has pushed for extending the increase, but the idea has been unpopular in an election year.READ MORE: 2 Dead, 5 Injured After Fire At Senior Community Apartments In Kenosha
Topinka likens the decrease to a “heart attack” to state finances. She says she’d rather see it phased out over two years to give lawmakers time to cut spending.
Topinka is facing a November challenge from Lt. Gov. Sheila Simon, a Democrat.MORE NEWS: Patients Left With A Lot Of Questions After Center For Covid Control Testing Sites Temporarily Shut Down, State Investigates Complaints
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