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Tax Increase Could be Higher Than Expected
(IRN)-The Illinois General Assembly could finish its work with a tax increase as part of a package intended to solve many of the state's financial problems.

Democrats have revealed their plan to seek a temporary 75 percent increase in the personal income tax – from 3 percent to 5.25 percent. That would recede to 3.75 percent after four years. Also included: a proposed increase in the corporate income tax, from 4.8 to 8.4 percent; and an increase in the state sales tax on cigarettes from 98 cents to $1.98 per pack.

State Rep. Barbara Flynn Currie, the House majority leader, says the state's problems are big, and the solutions must be, too. As the Democrats spend the weekend working their ideas into bill form to present to members Sunday or Monday, House Minority Leader Tom Cross says lawmakers will be shocked at the reaction they’ll hear in their hometowns over the weekend. Cross, suggesting even a repeal of the free rides for senior citizens on mass transit would show some effort to make a cut, says the Democrats just don't get it.

The House returns Sunday and the Senate Monday. The new General Assembly is sworn in Wednesday.

(Source: Illinois Radio Network)
01 07 11 by Newsroom
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