Ill. tax hike could be temporary
SPRINGFIELD, Ill. - Gov. Pat Quinn is no longer shooting down the idea that a state income tax increase could be temporary — but he’s not exactly confirming it either.
Quinn has proposed raising the income tax from 3 percent to 4.5 percent, but lawmakers - including fellow Democrats - have been hesitant to support the increase.
A temporary increase may be more palatable and Quinn is no longer denying it’s on the table as lawmakers face a “fiscal calamity” in the state. Illinois faces a budget deficit of nearly $12 billion.
“I’m willing to do whatever necessary to get the revenue to pay the bills for the coming year,” Quinn said this morning.
“I think if you look at Illinois in the last 40 years, when you’ve had to have revenue increase … it’s always been bipartisan where people put aside politics and do what’s right for the state at large,” Quinn said.
A vote on an income tax increase is expected in the House sometime this afternoon. Lawmakers are working to wrap up session, including approving a state spending plan for the coming year, by Sunday.
Stay tuned to Political Fix for more coverage.
So you’re telling me they’re going to take the money just for now… then lower the tax rate in the future?
Ha!
Once the money rolls in, the fat gets fatter and the state won’t be able to survive on anything less because it’s accustomed to the higher tax revenues and we’ll be facing “financial calamity” all over again.
There is no such animal as a “temporary” tax increase. When it’s time is up, the crooks in Springfield will bemoan the “suffering” that will result if the increase isn’t made permanent. I’m sure I’m not the only Illinois taxpayer that remembers the “temporary” income tax increase from 2.5% to 3%. It’s been “temporary” for many, many years. One would think that the hacks in Springfield would have learned from last week’s California vote. NO MORE TAXES.