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|Political Expert's Opinion on 'Temporary' Tax Increase
|(IRN)-What are the odds that the temporary increase in income taxes remains just that: temporary?
Professor emeritus Kent Redfield, a political scientist at the University of Illinois at Springfield, says it's possible that the temporary income tax increase would be allowed to expire if lawmakers continue to look for ways in which that state can save money.
"If we build in a lot of spending that would have to go away if the tax increase isn't extended then [there will] be pressure to extend it, Redfield said. "If we use the tax increase primarily to pay bills and to get pensions back under control, then you could allow it to expire if it in fact is just doing those functions."
David Yepsen, director of the Paul Simon Public Policy Institute at Southern Illinois University, believes most people don't believe it's a temporary tax.
"I think it's an open question whether this is a temporary tax increase or not," Yepsen said. "I mean most people would argue that it really isn't that they'll just keep it going."
Yepsen adds that it will likely be a debatable issue in the next race for governor.
"There have been examples where there have been temporary tax increases and this will be a debate in the campaign of 2014 for governor," Yepsen said. "If the state, the economy has improved and if the state has learned to live within its means in four years, then I think you would see some people say 'yeah, let's let it go back down, lets give a break to the tax payer, but I think it's an open question yet whether that's going to be permanent or not."
(Source: Illinois Radio Network)
|01 17 11 by Newsroom
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