Tag Archives: tax increase

Even before Governor Quinn signs into law the Illinois legislature’s tax bill, the debate continues: is this the best course of action to close a budget gap? Many say that instead of trying to generate more revenue from already frustrated taxpayers, the state must make a concerted effort to instill …

Facing one of the biggest budget shortfalls of any state, Illinois took the risky step of jacking up income and corporate taxes even as its economy struggles to shake off the recession. WITH NO CUTS IN GOVERNMENT SPENDING In a deal hammered out by the state’s Democratic leadership, the lame-duck …