News

“Doomsday Budget” Overwhelmingly Fails

“Doomsday Budget” Overwhelmingly Fails

Photo: Newsradio WTAX

A budget presented in the Illinois House Friday that assumes the income tax increase will expire at the end of the year failed overwhelmingly.

The 5 percent income tax rate is set to roll back to 3.75 percent at the end of the year, unless action is taken by the legislature – and there aren’t enough votes to do that, according to the House speaker.

A $37 billion budget passed last week assumed the income tax rate would be made permanent. The alternative budget voted on today would spend $34.5 billion.

“As of today, the facts are that the tax won’t be extended, and we’re going to have additional pressures,” said State. Rep. Fred Crespo (D-Hoffman Estates), who sponsored the bill with the spending cuts. It failed with 107 representatives voting no.

Republicans claimed the budget cuts need not be as severe as the governor as claimed.

The clock is ticking to finalize a budget before session lets out at the end of the month.

Recent Headlines

in Local

State Attorney General Warns Against Immigration Scammers

Fresh
immigration reform

Lisa Madigan's office warns those applying for deportation relief to be on the lookout for scammers posing as Notarios.

in Local

Cullerton Helps Veterans Transition to Civilian Life

Fresh
Tom Cullerton

HJR 91 helps returning veterans transition back to civilian life.

in Local

New Lincoln Exhibit Opens Today at Presidental Museum & Library

Fresh
Lincoln Presidential Museum

New exhibit celebrates 150th anniversary of Lincoln's death and 10th anniversary of ALPLM.

in Local

Court Date Set to Determine State Retiree Healthcare Refunds

state_capitol_3

The state will refund money to about 75,000 state retirees who've been paying a portion of their pensions for health insurance.

in Local

Durbin: President Did Right Thing on Immigration

immigration

Durbin tells Illinois colleagues to take action, not complain