News

Tax Increase or Not, Budget Is on the Move

Tax Increase or Not, Budget Is on the Move

There’s progress on putting together a budget for the Illinois state fiscal year that begins July 1. There seems to be less progress on how to pay for it all.

The personal income tax rate drops from five percent to 3.75 percent Dec. 31, unless there’s a vote otherwise. An idea floating around the Capitol is to pass the larger budget now, then save the tax vote for after the election and let whoever is governor then deal with it.

The five House appropriations committees are expected to hear about the budget bills – but not the tax question – today.

State Rep. Frank Mautino (D-Spring Valley), a member of the House Revenue and Finance Committee, is not on board with that. “I would hope that before we left here on May 31 and voted on the budget that we would have our revenues set for next year,” he said, adding that the uncertainty, to say nothing of the reduction of income, would damage school districts expecting state money.

“What we should do is we should cut spending, and we should assume the tax increase expires” as planned when the lawmakers of January 2011 increased it for four years, says State Rep. David McSweeney (R-Barrington Hills), who is also on that committee. “If they (the majority Democrats) pass an unbalanced budget, it will be another stunt that will hurt the state.”

The current level of revenue would hold until Dec. 31 regardless. Gov. Pat Quinn is campaigning for re-election as well as to keep the five percent rate. Republican Bruce Rauner, challenging Quinn, is not in favor of that.

If Rauner wins the Governor’s Mansion in November, everything will be his problem

 

 

 

 

Recent Headlines

19 mins ago in Local

Illinois Woman Sentenced for Health Care Fraud

Fresh
gavel2

Ann Marie Sheppard of O'Fallon was sentenced this past week. The first six months of her probation will be served in home confinement.

27 mins ago in Local

Bill Seeks to Ban Drones From Flying Near Prisons

Fresh
FILE - This March 12, 2014 file photo shows a drone landing after flying over the scene of an explosion that leveled two apartment buildings in East Harlem in New York. Brian Wilson, the owner, says he uses the aerial drone to document buildings, weddings and news events. The Federal Aviation Administration bars commercial use of drones no matter how seemingly benign. Officials say rules to address the special safety challenges associated with unmanned aircraft need to be in place before they can share the sky with manned aircraft and final regulations could be years away. But tempting technology and an eager marketplace are outrunning the aviation agency's best intentions. Photographers, real estate agents, moviemakers, and others are hurrying to embrace the technology.

The bill, sponsored by Sen. Tim Bivins, seeks to prevent drones from flying over prison yards and dropping packages containing drugs, pornography, razorblades and other contraband, which has happened in other states.

34 mins ago in Local

Officials Delay Decision on Delavan Armory

Fresh
wtax 011015

Officials met Monday in Delavan and decided to delay a decision on the building's future until June, when they will have more information on various options.

39 mins ago in Local

Water Monitors to Test Quality of Bloomington Lakes

Fresh
bloomington

Stations will be installed in creeks flowing into Lake Bloomington and Evergreen Lake this spring.

45 mins ago in Local

Voter Registration Deadline Ahead for March 15 Primary

Fresh
I Voted Stickers

The Illinois primary election is March 15.