News

Topinka Says Cutting Taxes Is Easier Said Than Done

Topinka Says Cutting Taxes Is Easier Said Than Done

 

Illinois Comptroller Judy Baar Topinka likes the concept of cutting taxes, but the reality of the state’s finances makes doing so more complicated.

Topinka says the proposal to cut the state corporate tax would make Illinois more competitive from a business

standpoint. With the state working through a backlog of $7.6 billion in unpaid bills, however, she believes a better approach is broader tax reform.

“Some of its illogical, some of it we’re just giving away money that we ought not to be – at least, we’re not

evaluating what we’re doing – and just get some logic and some common sense into that before we start looking at any radical comings and goings here,” Topinka said. “This may not be the time.”

Topinka says while she favors both this tax cut and allowing the temporary income tax hike to expire, legislators should consider the effect those cuts would have on the state budget.

Recent Headlines

in Local

“Workers Comp Reform” Fails in Illinois House

illinois house

The Illinois House closed out the week with Democrats taking another whack at the governor's "Turnaround Agenda."

in Local

New University of Illinois President Visits UIS

5-22-15 timothy kileen

New University of Illinois president Timothy Killeen is reacting to published reports suggesting that community college and university presidents get some pretty expensive perks.

in Local

Legislation Helping Mahomet Aquifer Goes to Governor

water

A measure affecting water supplies in some regional communities has passed through the General Assembly.

in Local

Cubs Owner Buys More Nearby Rooftop Buildings

cubs

Cook County property tax records show that an entity controlled by the owner of the Chicago Cubs has purchased three more rooftop buildings next to Wrigley Field.

in Local

New IL Corrections Director Resigns

Seal_of_Illinois

Illinois Gov. Bruce Rauner's choice for state prisons director has resigned just two months into the job.