Wednesday, March 26, 2014

Ill. Gov. Pat Quinn Wants to Makes Temporary 67% State Income Tax Increase Permanent

The Chicago Tribune reports:
Gov. Pat Quinn has prepared an election-year spending proposal that would make permanent the 67 percent income tax increase set to expire in 2015 and couple it with property tax relief for homeowners, sources familiar with the plan said Tuesday.

Quinn planned to tell lawmakers in his Wednesday budget address that the temporary tax increase he signed into law in 2011 is needed to fund education, said one of the sources who was briefed on his plan but not authorized to reveal the details in advance of the noon speech.
Nothing is so permanent as a "temporary" tax increase as the saying goes.