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Illinois Democrats In Senate Pass 33% Hike Of Personal And Corporate Income Taxes

 
TheToolMan
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05/24/2017 12:51 PM
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Illinois Democrats In Senate Pass 33% Hike Of Personal And Corporate Income Taxes
Senate Democrats in Illinois, with a final vote of 32-26, have just passed a new budget proposal that includes a massive personal and corporate income tax hike and an expansion of the state's sales tax, after saying they are no longer willing to wait for a broader deal with Republicans.

As the Chicago Tribune noted earlier this morning, the Democrats' budget proposal includes a ~33% hike in both the the personal and corporate income tax rates and an expansion of the state's share of sales tax revenue. In all, the package would cost Illinois taxpayers an incremental $5 billion.

Democrats spent the weekend tweaking the spending plan, and unveiled an updated proposal late Monday. It calls for spending $37.3 billion after raising about $5 billion through the tax hikes; a floor vote is expected Tuesday, said Sen. Heather Steans, a Chicago Democrat and key budget negotiator.

The blueprint relies on the passage of companion legislation that would raise the personal income tax rate from 3.75 percent to 4.95 percent, which is just below the 5 percent rate in place before Rauner took office. The corporate income tax rate would be hiked from 5.25 percent to 7 percent.

Meanwhile, the state's share of the 6.25 percent sales tax would be extended to various services not currently covered, such as dry cleaning. The proposal also calls for ending three corporate tax breaks, including requiring companies that drill on the outer continental shelf and do business in Illinois to pay income taxes.



[link to www.zerohedge.com]
"My mom said the only reason men are alive is for lawn care and vehicle maintenance."
Anonymous Coward
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05/24/2017 12:54 PM
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Re: Illinois Democrats In Senate Pass 33% Hike Of Personal And Corporate Income Taxes
Play stupid games and get stupid prizes.

I have no clue why people vote democrat
TheToolMan  (OP)

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05/24/2017 12:55 PM
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Re: Illinois Democrats In Senate Pass 33% Hike Of Personal And Corporate Income Taxes
Play stupid games and get stupid prizes.

I have no clue why people vote democrat
 Quoting: Anonymous Coward 54175798


because they are retarded?
"My mom said the only reason men are alive is for lawn care and vehicle maintenance."
Anonymous Coward
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05/24/2017 04:54 PM
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Re: Illinois Democrats In Senate Pass 33% Hike Of Personal And Corporate Income Taxes
Indiana here I come
TheToolMan  (OP)

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05/24/2017 05:01 PM
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Re: Illinois Democrats In Senate Pass 33% Hike Of Personal And Corporate Income Taxes
Thx 1-star bandit! dasbier
"My mom said the only reason men are alive is for lawn care and vehicle maintenance."
Anonymous Coward
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05/24/2017 05:59 PM
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Re: Illinois Democrats In Senate Pass 33% Hike Of Personal And Corporate Income Taxes
when are the people in Illinois going to wake up ?
TheToolMan  (OP)

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05/24/2017 06:04 PM
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Re: Illinois Democrats In Senate Pass 33% Hike Of Personal And Corporate Income Taxes
when are the people in Illinois going to wake up ?
 Quoting: Anonymous Coward 74959179


They are brain dead. Union town. Government Pensions. I guess they don't care because they want their pensions paid.
"My mom said the only reason men are alive is for lawn care and vehicle maintenance."
reader1
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05/24/2017 06:45 PM
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Re: Illinois Democrats In Senate Pass 33% Hike Of Personal And Corporate Income Taxes
more people will leave the state,the remaining residents
will pick up the taxes.
the time to act is now.
Anonymous Coward
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05/24/2017 07:50 PM
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Re: Illinois Democrats In Senate Pass 33% Hike Of Personal And Corporate Income Taxes
nuke chiraq
C4G3

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05/24/2017 08:00 PM
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Re: Illinois Democrats In Senate Pass 33% Hike Of Personal And Corporate Income Taxes
when are the people in Illinois going to wake up ?
 Quoting: Anonymous Coward 74959179


They are brain dead. Union town. Government Pensions. I guess they don't care because they want their pensions paid.
 Quoting: TheToolMan


It's only a handful of counties that control the state, Chicago, Springfield. It's that way in most states anymore.

I'm on my way out, no work, huge regulations, outrageous taxes, Liberals are destroying this world!!!

Game On!
- It does not take a majority to prevail... but rather an irate, tireless minority, keen on setting brush fires of freedom in the minds of men.
- The liberties of our country, the freedom of our civil constitution, are worth defending against all hazards: And it is our duty to defend them against all attacks.
- Samuel Adams -

"When injustice becomes law resistance becomes duty."
- Thomas Jefferson -
Anonymous Coward
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05/24/2017 08:07 PM
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Re: Illinois Democrats In Senate Pass 33% Hike Of Personal And Corporate Income Taxes
They are blaming the new R governor. He wants term limits and balanced budgets. But they can't even do that. He is trying to bring people and biz back here. But dumbass demcrates only know one thing. TaX and Spend
Anonymous Coward
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05/24/2017 08:08 PM
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Re: Illinois Democrats In Senate Pass 33% Hike Of Personal And Corporate Income Taxes
nuke chiraq
 Quoting: Anonymous Coward 64422043


No I Uber downtown. I use a new F150 and everyone loves it. They say they never Uber in a truck before
Anonymous Coward
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05/24/2017 08:09 PM
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Re: Illinois Democrats In Senate Pass 33% Hike Of Personal And Corporate Income Taxes
Between healthcare and taxes it seriously does not pay to work in Illinois. I realized I could not work and be just as poor. The one benefit is after a bit my body started to heal after the decades of labor work.
Anonymous Coward
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05/24/2017 08:12 PM
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Re: Illinois Democrats In Senate Pass 33% Hike Of Personal And Corporate Income Taxes
Indiana here I come
 Quoting: Anonymous Coward 73610979


Don't you remember the last personal income tax was only 300% but temporary?


Not laughing this time either.

Tune into WCCP on Saturday afternoons with Dick Kay, and listen to the "blame Rauner for everything" 3 hour shiftiest.

5a
TheToolMan  (OP)

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05/24/2017 08:45 PM
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Re: Illinois Democrats In Senate Pass 33% Hike Of Personal And Corporate Income Taxes
nuke chiraq
 Quoting: Anonymous Coward 64422043


No I Uber downtown. I use a new F150 and everyone loves it. They say they never Uber in a truck before
 Quoting: Anonymous Coward 62797999


How much do you make?
"My mom said the only reason men are alive is for lawn care and vehicle maintenance."
TheToolMan  (OP)

User ID: 74957874
United States
05/24/2017 08:45 PM
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Re: Illinois Democrats In Senate Pass 33% Hike Of Personal And Corporate Income Taxes
nuke chiraq
 Quoting: Anonymous Coward 64422043


No I Uber downtown. I use a new F150 and everyone loves it. They say they never Uber in a truck before
 Quoting: Anonymous Coward 62797999


How much do you make?
"My mom said the only reason men are alive is for lawn care and vehicle maintenance."





GLP