Archive for January 7th, 2011

January 7, 2011

Illinois politics

by Neil Rickert

The local news is abuzz with reports of a deal in Springfield to increase state taxes.  Apparently, the state income tax would go from its current 3% to 5.75%.  Then, after 4 years, it would revert to 3.75%.  See here and here.

Nobody likes tax increases.  However, I applaud this change.  Part of the tax would be used to reduce property taxes and to fund schools.  And part of it will be to catch up with the deficit that has been building over the last several years.  I’m not sure who gets the credit (or blame) for this deal.  And, of course, it has not yet been enacted into law.  But it is good to see some fiscal sanity returning to Springfield.