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

Prisons and Power

jail

A spokesman for AFSCME says power failures highlight a lack of necessary funding

in Election 2014, Local

Quinn and Rauner Agree: Don’t Raise the Gas Tax

GAS PUMP

Other ways to build and maintain roads, they say

in Local

Accident Leaves State Trooper Injured

isp crash

Cause of crash under investigation

in Local

Workers Mark Labor Day with Annual Parade

labor day parade

Hundreds line downtown parade route Monday

in Local

Shuttle Driver Arrested for DUI While Carrying Bar Patrons Home

drunk_driving

Bus driver allegedly more than 2 time legal limit