The good news (sort of) is that Senate President John Cullerton does not expect an income tax hike this fall despite Governor Pat Quinn’s (replacement for Blagojevich) support for a tax increase for his budget. The good news only last so long though, Senator Cullerton doesn’t think that a tax increase would pass in the fall, but says, “I would do it in January. I’d do it before the primary. Whatever makes is easier to pass.” The Senator’s comments should instead read that he would rather just prolong applying more pain to the taxpayers of Illinois a few months before pushing for a tax hike. This kind of mentality leaves no room for comfort in the minds of taxpayers. The bad news is the Governor and legislature already passed new tax hikes this year that will start being applied on Tuesday, September 1st. In May, as part of the $26 billion capital plan, the legislature voted to raise taxes on alcohol, soda, candy, and even some hygiene products. Between $35-38 million is expected to be raised from the new candy taxes alone, in other words, pulling money from the pockets of the citizens of Illinois (including the kids). The new alcohol taxes on beer, wine, and liquor are expected to raise another $109 million in revenue, pulling hard earned money from the private market (citizens) and turning it over to the state government. Read this story talking about the hit alcohol retailers are expecting.
After hearing Senator Cullerton’s view on the income tax matter, taxpayers should see that there pockets are not so safe in Illinois. The new taxes for the capital project apparently are not even enough for Governor Quinn and the legislators of the state. Be aware of their plans to increase the income tax if given the opportunity.
Photo credit: Amarand Agasi