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Quinn income tax expires January 1st

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January 1st is the day that the state will enact new laws. Usually that business is pretty generic, new hunting laws, maybe a law surrounding the rules of the road. But this year, the big news is all about the income tax. The famed “Quinn Income Tax hike” is set to expire on December 31st and nothing has been done by either parties to change that. So, starting Jan 1, the rate goes from 5 percent to 3 and a quarter. Some estimations say that you will save close to a thousand dollars a year. But some lawmakers are worried that money will make it even harder to pay our state bills, and would put us in danger of being delinquent on the expenses we owe. So what does it all mean? Is this a new day in Illinois politics? Or is it a dangerous game of chicken? Illinois Public Radio Statehouse Bureau Chief Amanda Vinicky explains.

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