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Business Group Leader Pans Income Tax Proposal
CHICAGO (AP) -- The head of a business advocacy group says a proposed income tax increase would hit small businesses hard and deter new companies from coming to Illinois.

Kim Maisch is director of the Illinois chapter of National Federation of Independent Business. She says she appreciates the difficulty in eliminating the state's $15 billion deficit. But she doesn't believe Gov. Pat Quinn has conducted a "top-to-bottom review'' to find spending cuts.

Democratic lawmakers' proposal would boost the corporate income tax rate from 7.3 percent to almost 10.9 percent and the personal income tax rate from 3 percent to 5.25 percent for four years to help pay off the state's overdue bills.

But Maisch says small businesses have already given as much as they can and lawmakers should find spending cuts.

(Copyright 2011 by The Associated Press. All Rights Reserved.)
01 07 11 by Newsroom
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