Why do the schools need money??? The lottery took care of that...(rolling eyes)
Posted on 01/06/2011 9:36:54 PM PST by Steelers6
SPRINGFIELD — Gov. Quinn struck a deal with the Legislature’s ruling Democrats Thursday to raise the state income tax by 75 percent and boost the tax on cigarettes by $1 a pack — while a push to abolish the death penalty scored a historic legislative victory.
The cornerstone of a dramatic day, the revenue agreement reached by Quinn, House Speaker Michael Madigan (D-Chicago) and Senate President John Cullerton (D-Chicago) would impose a temporary increase in the state tax on workers’ paychecks from 3 percent to 5 ¼-percent.
The money from that, the cigarette tax hike and a corresponding increase in the corporate income tax from 4.8 percent to 8.4 percent would erase the state’s expected $15 billion deficit.
It also would generate a $700 million-plus windfall for schools and fund annual $325 rebate checks to property owners beginning in 2011, two key concessions fought for by leading black lawmakers, including Rep. Will Davis (D-Homewood).
“I think it’s the right time to do it because we are in desperate need of paying our bills,” Cullerton told reporters. “We’d have all our bills (paid) – all those people owed money -- $8 billion will go back into the economy. People will be paid on time. Our credit rating will be dramatically improved. We will then have a balanced budget with virtually no growth for the next four years,” he said.
The deal, which was first disclosed Thursday by the Chicago Sun-Times, would limit future growth of state government during the next three years by imposing a moratorium on new programs and a 1-percent cap on new spending in each of those years, Cullerton said.
The package will be heard first in the House. The measure could surface as soon as Friday and must pass both legislative chambers by Wednesday when the lame-duck session ends.
“The governor is working on a plan with the Senate president and the speaker of the House to build a framework that will allow the state to pay its bills, stabilize the budget and strengthen the Illinois economy,” Quinn spokeswoman Ashley Cross said.
Republicans have vowed to oppose the plan and, earlier, needled Quinn for misleading voters in his successful gubernatorial campaign when he advocated a smaller, 1-percentage point increase in the individual income tax.
“I often said during the election that I gave Gov. Quinn credit for running on what he believes in, which is a 1-percent increase. This is more than double that,” said Sen. Christine Radogno (R-Lemont). “To me, that’s kind of a bait and switch. And I think it’s wrong.”
Meanwhile, on the day’s other major issue, the House took two tries and ultimately passed an abolition of the death penalty, marking the first time either the House or Senate moved to end executions since the death penalty was re-imposed in 1977.
The measure, which passed 60-54 and now moves to the Senate, sparked an emotional debate that weighed the rights of the 20 wrongly convicted, exonerated Death Row inmates against the victims of horrific crimes.
“We’ve seen this Legislature and the state struggle for the right answers for a long time now. We’ve paid dearly for it. We’re at a cross roads now and ready to change it,” said Rep. Karen Yarbrough (D-Maywood), the bill’s chief House sponsor.
One of the “yes” votes was Rep. Susana Mendoza (D-Chicago), a past advocate for death-penalty expansion who reversed her position after meeting with some exonerated ex-death row inmates.
“I have come to realize in order to ensure justice is served in death to an evil cancer in society, we must accept the possibility of executing an innocent person. I’m not OK with that, and none of us should be OK with that,” said Mendoza, who is running for city clerk.
But Rep. Jim Durkin (R-Western Springs), a former prosecutor, predicted there would be a public outcry the next time a horrific crime is committed and prosecutors no longer have the ability to pursue a death sentence.
“It’s important we have that option available not only for law enforcement but also for the families,” he said.
Late Thursday, Cullerton declined to predict whether the Senate would pass the abolition but said he personally intended to vote for it. Its lead Senate sponsor, Sen. Kwame Raoul (D-Chicago), he has the votes to pass it.
Contributing: Stephen Di Benedetto
Who'd the commie thugs reach their "deal" with? Surely it wasn't the taxpayers. I don't think anyone is THAT stupid.
This sounds very good for Texas. In the 2010 census Houston surpassed Chicago to to be the third largest city in the US. Perhaps Chicago will become the next Detroit.
No governmental entity has EVER taxed itself into prosperity.
People near the boarders will be leaving the state to shop and, probably, to scout locations to move to.
Now is the time: I suggest we give Illinois to Canada. A match made in heaven.
I think United should move its headquarters to Houston where Continental was headquartered.
Moving van? Just because they want to double the corporate tax and almost double the income tax so the schools/unions can keep making out like bandits instead of being fined because of the inferior product they keep turning out?
California here we go again.
I was just about to bust you on your title. I thought it was supposed to be $75 dollar increase, not 75%. Imagine my suprise when I read the Sun story. Wow! Those suckers are not going to know what hit them. Stick a fork in that state.
We’re moving our business. We won’t let the tollgates hit our backside on the way out. Bye-bye Illinois.
Why do the schools need money??? The lottery took care of that...(rolling eyes)
raise the rate 75% and get excited about a $325 refund?
WOW.
Maybe that’s why so many from Chicago are moving to DC? /sarc......are these people IDIOTS? What you TAX you get LESS OF!
“Who’d the commie thugs reach their “deal” with?”
The democrat governor reached a deal with the lame-duck democrat house and the lame-duck democrat senate.
I imagine there were a lot of sparks flying trying to decide on 75% vs 100%.
75%??
New Illinois Motto “We treat our murderers better than our taxpayers”
I think I can speak for all Californians when I say that finally, our own madness has been eclipsed. We won’t be the first state to commit suicide - it’s Illinois by a nose!
Someday soon this income tax theft will end and so will the tax one people’s cars and homes. How dare they tell us we have to pay a tax to own our home and car or they will be confiscated!
>I think I can speak for all Californians when I say that finally, our own madness has been eclipsed. We won’t be the first state to commit suicide - it’s Illinois by a nose!<
Preach it freeper! Now we can say there’s a dumber state than Mexifornia. Now let’s wait til Moonbeam Jerry Brown starts to “govern”..
The good times are rolling again. The state will be rich before you know it!
Preach it freeper! Now we can say there’s a dumber state than Mexifornia. Now let’s wait til Moonbeam Jerry Brown starts to “govern”..”
Our only hope is that he gets back with Linds Rondstadt and she smothers him to death in a wild night of make up sex.
Illinois residents pay a flat tax equal to 3% of whatever amount they paid/owed the federal government. 75% of 3% is 2.25%. add that to 3% for a 75% increase. I did a double take too.
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