News

Republicans Dislike Tax Ideas

Republicans Dislike Tax Ideas

Republicans in the General Assembly who oppose a progressive income tax say they oppose it even if the corporate income tax were abolished.

They frame their opposition to a progressive income tax – one that charges higher rates on higher levels of income – as such a tax being bad for business. But take away the corporate income tax altogether, and it’s still bad, says State Sen. Matt Murphy (R-Palatine).

“It’s an interesting concept, because we do have one of the highest corporate taxes in the world right now. The concern that I would have with that is the large number of small businesses that are operated by people who pay the individual rate,” he said.

The corporate income tax rate is 7 percent, though businesses pay another income-based tax that adds up to 9.5.

A progressive income tax is being discussed in Springfield. It would require a constitutional amendment.

 

Recent Headlines

in Local

Crooked Contractor Sent to Prison

sorenson

A Springfield man is admitting to bilking a customer out of more than $50,000 for home repair work he never did.

in Local

State Contract with AFSCME Extended 2 Months; Governor Vetoes Anti-Strike Bill

afscme

There's still no state budget, but contract talks continue with the biggest state workers' union.

in Local

Sherman in Good Financial Setting

sherman

There might be one easy way to describe the budget situation...in Sherman.

in Local

Electronics Recycling Available in Springfield — Take 2

Keyboard with go green button, ecology concept.

Springfield residents will have another opportunity to get rid of their unwanted electronics by recycling them.

in Local

Rauner Approves Expansion of SNAP Benefits

SNAP

Newly signed legislation will expand access to food stamps in Illinois.