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

DeWitt Co. Settlement OK’d in Dispute to Put Toxic Waste Over Aquifer

water

DeWitt county has approved a settlement with a landfill company.

in Local

Kankakee Co. Sheriff Describes Security Lapses that led to Inmate Escape

inmate_exiting_kamron_taylor

Sheriff Tim Bukowski says investigators found no inmate count had been done.

in Local

House Approves Springfield High Speed Rail Oversight Act

high speed rail

An attempt to make sure fair hiring practices are implemented on Springfield's high speed rail 10th street consolidation project is moving forward.

in Local

Rauner Admin. Plans $106 Million in Medicaid Cuts

medicaid

Cuts to Medicaid will make up about one-third of the $300 million in spending reductions by Gov. Bruce Rauner's office

in Local

Butler: Future of $26M in Social Service Funding Unknown

Budget Cuts

State Representative Tim Butler says who knows if that $26 million Governor Bruce Rauner is holding from a number of state social service programs will be restored or not.