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| Lawmakers Still Debating Income Tax Hike |
With just two full days left in the spring legislative session, Illinois lawmakers are running out of time to come to terms on a tax increase proposal. There's more than one idea floating around both the House and Senate; some are closer than others to being passed.
Gov. Pat Quinn's original proposal to raise the personal income tax from 3 percent to 4.5 percent isn’t getting much support -- even though he's scaled back some of his ideas, such as tripling the personal exemption to $6,000 (his current plan calls for a $3,000 exemption). Part of an amendment to the bill has offered a sunset provision, which means that any tax increase would be temporary.
But State Sen. Mike Jacobs (D-East Moline) doesn’t buy that.
"We in the Senate know that sunset is just a word, I think that's a copout," said Jacobs. "I think voters want to hear politicians telling the truth, but I've been here long enough to know that if they raise the tax, they're not lowering it."
State Sen. James Meeks (D-Chicago) has a different proposal running through the senate. SB750 would increase the personal income tax to 4 percent instead of 4.5, double the corporate income tax rate, provide $1500 worth of property tax relief and expand the sales tax base. That means more services would be taxed, such as haircuts, limousine rides, and movies.
While most Senators agree that neither plan is perfect, Meeks says he's very close to having the 30 votes needed to pass the measure over to the House. Once it gets there, he says he has no idea what will happen to it.
Lawmakers have until Sunday at midnight to agree on a budget proposal, or they'll be forced to go into overtime, when it will take a 3/5 majority vote to pass any legislation.
(Illinois Radio Network) |
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| 05 29 09 by Newsroom |
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