Democrats approve massive bail out of state government
January 13, 2011 | Filed Under Americans For Prosperity, Budget, Democrats/Leftists, Government, Corruption, Illinois, Illinois State Government, Liberals, Pat Quinn, Taxes, Warner Todd Huston | 1 Comment
From Americans for Prosperity, Illinois…
6% tax hike passes, goes to governor for signature
Democratic Illinois lawmakers beat a looming deadline during the last hours of the lame-duck session and approved a 66 percent income-tax increase. Corporate taxes will also be raised 46 percent.
The proposal passed the House on Tuesday night 60-57, the bare minimum. No Republicans backed the measure there or in the Senate, where the measure passed 30-29.
The budget plan is coupled with strict 2 percent limit on spending growth. Allegedly, if officials spend above those limits, the tax increase will automatically be canceled. The new tax money will balance the state’s annual budget and let officials begin chipping away at the backlog of unpaid bills.
The income tax increase means an Illinois resident who now owes $1,000 in state income taxes will pay $1,666 at the new rate. After four years, the rate drops to 4 percent and that same taxpayer will then owe $1,333.
As a side note, lawmakers rejected a $1-a-pack increase in cigarette taxes, which would have provided money for schools. They also blocked a plan to borrow $8.7 billion to pay off overdue bills.
A thank you message from State Director
I want to take this opportunity to thank the thousands of Americans for Prosperity members who wrote letters and made phone calls to their respective lawmakers opposing the income tax increase.
I also wish to thank our supporters for providing AFP-IL with the resources to communicate with over 350,000 households in 56 legislative districts asking voters to contact their respective legislators in opposition to the income tax increase.
Though we lost our battle opposing this massive bail out of state government, we have certainly displayed our collective abilities to have our voices heard.
Rest assured, AFP-IL and our members will continue to advocate for public policies that champion the principles of entrepreneurship and fiscal and regulatory restraint. We will also work harder than ever to hold lawmakers at every level of government accountable for how they spend our hard earned tax dollars.
Again, thank you for all that you do on behalf of freedom and liberty. We ARE making a difference!
Joe Calomino
State Director
Americans for Prosperity
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