Lawmakers Agree on Major Income Tax Hike, But No Budget
Lawmakers Agree on Major Income Tax Hike, But No Budget
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Illinois lawmakers are back to work after a dramatic vote in the House to increase income taxes by 32 percent.
Attention turns Monday to the Senate, where lawmakers will consider the budget measures approved by the House a day earlier. The tax legislation increases the personal income tax rate from 3.75 percent to just under 5 percent. Corporations would pay 7 percent instead of 5.25 percent.
Republican Gov. Bruce Rauner already promised to veto it. Also moving to the Senate is a $36 billion spending plan the House OK’d Sunday. It’s about $1 billion less than the spending outline the Senate passed in May.
Morning Shift hears from WBEZ State Politics Reporter Tony Arnold on the latest from Springfield.