Tuesday, July 12, 2011

Tax hike drives Ill. budget growth

Journal Courier reports:
Illinois taxed residents more — instead of create more jobs — to amass about $1 billion more in revenue in 2011, according to a new report.

The Commission on Government Forecasting and Accountability, a legislative budgeting division, reports that personal income tax revenue grew between 2010 and 2011 by $564 million, from $831 million to $1.3 billion.