illinois income tax

Revenue
11:43 am
Thu July 10, 2014

Illinois Ends Fiscal Year In The Black...Temporarily

Originally published on Thu July 10, 2014 5:18 am

The state took in over a billion dollars more in taxes than the prior year, thanks to an uptick in sales tax money.  Personal income tax revenue also rose , but the amount coming from corporate income taxes dropped. It's something Jim Muschinske, a budget forecaster for the state, said was predicted.

"That was not unexpected. In fact, we actually did better this fiscal year than what was initially assumed back when the budget was passed," Muschinske said.

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Back to the Drawing Board
5:59 pm
Wed May 21, 2014

Governor's Tax Plan Fails Among House Democrats

House Speaker Michael Madigan is seen in this December 2013 file photo.
Credit Amanda Vinicky/Illinois Public Radio

Illinois lawmakers are going back to the drawing board on a state spending plan.

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Illinois Legislature
12:30 pm
Wed May 21, 2014

Rauner Wades Deeper Into Tax Debate, But Offers No Budget Plan

Bruce Rauner is robo-calling voters in seven House districts he says are key to the income tax debate.

Originally published on Tue May 20, 2014 4:49 pm

Republican candidate for governor Bruce Rauner is wading deeper into the debate over whether Illinois ought to extend a higher income tax rate. He's still refusing to say how he would manage the state budget.

The Rauner campaign says it's making robo-calls to voters in seven House districts. These are key Democrats in the budget debate — most have previously taken positions against the higher tax rate.

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Illinois Legislature
5:33 am
Tue May 20, 2014

Quinn Pitches Tax Plan To House Democrats

Gov. Pat Quinn speaks with reporters Monday in the Capitol after meeting with House Democrats for more than two-and-a-half hours.

Originally published on Mon May 19, 2014 11:27 pm

Gov. Pat Quinn appealed directly to Democrats in the Illinois House Monday evening. He’s struggling to win support for his plan to extend Illinois’ higher income tax rate.

The governor appeared at a closed meeting of the Illinois House Democratic caucus.

Quinn is trying to win the support of the 60 Democrats required to make Illinois’ 5 percent income-tax rate permanent — instead of letting it decline by more than a percentage point as scheduled at the end of the year. Quinn warns without the higher tax rate, there will have to be drastic cuts in state services.

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Legislature Debates IL Income Tax
8:38 am
Tue April 29, 2014

You First ... No, You First: Tax Hike Timing

Senate President John Cullerton, D-Chicago

Originally published on Mon April 28, 2014 5:45 pm

The Illinois House will take the lead on whether Illinois keeps its 5 percent income tax. It's scheduled to roll back at the end of this year unless legislators take action.

It's happened in the past. The Illinois Senate will pass a controversial measure -- like a tax hike -- only for it to languish in the House.

Not this time.

Senate President John Cullerton says the Senate will vote on the tax question if and only if it first passes the House.

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