Today in Springfield, Illinois House of Democrats took a vote today to determine if state income tax increase will remain permanent at 5 percent. The 5 percent state income tax increase is only temporary and will expire on May 31. If they do not make the income tax permenant at 5 percent it will drop to 3 percent. This decease will cause funding in education and other services to take deep cuts. Speaker Michael Madigan has developed a plan to cut spending by $4 billion from their $38 billion budget that was approved last week.
Governor Quinn has proposed to the House of Democrats that they keep the income state tax at 5 percent. The House needs 60 votes to make the income tax hike permanent. Among the 71 members of Democrats, 34 favor to keep the higher tax rate, 30 are opposed, and 4 undecided. Quinn spokeswoman Brooke Anderson says the Governor is working on passing a budget that will help to fund education in Illinois.
Republicans are expect not to vote to keep the tax increase at 5 percent. With the threat of budget cuts to education and other services. Governor Quinn and Speaker Madigan hope that the threats of the deep cuts will force other members of the House to keep the tax increase. With lack of support of this proposal Governor Quinn could be out of a job when elections come on November 4. more info