Edgar backs Governor's proposal to make income tax hike permanent
“You don’t raise revenue or come up with a consistent revenue source and not do the tax cutting or controls that you need to do. You ought to do them all at the same time. Think that was a mistake they made three years ago, whenever they passed this temporary tax. They didn’t really make any spending cuts or put any effective spending controls in. Would have been helpful,” says Edgar.
Edgar himself supported making a temporary tax increase permanent when he was a candidate for governor in 1990. He says that like the current one, that tax increase had to be kept to preserve school funding.
As for the $500 property tax credit that Governor Quinn is proposing, Edgar says it’s useful if it helps get Quinn’s income tax rate extension passed. But he says it’s NOT like his proposal to cut school property taxes through a so-called “education tax swap” back in the 1990s.