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Politics : Politics for Pros- moderated

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To: LindyBill who wrote (294430)	3/1/2009 7:27:48 AM
From: FJB	Read Replies (1) of 794271

One thing about Blago is he vowed not to raise taxes. Now that he is gone, they will be doing so. --------------------------------------------- State tax hike on table Lawmakers say move may be only way to stanch red ink By Ray Long and Rick Pearson \| Tribune reporters March 1, 2009 SPRINGFIELD - Gov. Pat Quinn says "divine intervention would help" deal with a budget gap as big as $9 billion and pay for a massive public-works construction plan, but state lawmakers increasingly say a state income tax increase is the only realistic way to meet the demands. The new governor may agree, though he's trying not to say. Since being sworn in about a month ago, Quinn has repeatedly dodged questions about details while saying a combination of belt-tightening and increasing state revenue will be part of the "rescue plan" he unveils in his March 18 budget speech. One House Democrat said privately that Quinn has indicated he was thinking of raising the state's flat 3 percent personal income-tax rate to 4 percent, with a corresponding hike in the 4.8 percent corporate income tax. The current rates have been in place since 1989. Legislators estimate a 1 percentage point increase in the rate could bring in close to $4 billion while taking the individual rate to 5 percent would generate nearly $8 billion... chicagotribune.com

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