income tax increase

The speaker of the Illinois House has scheduled a vote for Thursday to override the governor's veto of budget package.

The Illinois Senate has voted to override Gov. Bruce Rauner's vetoes of a $36 billion budget plan and $5 billion income tax increase. 

Katherine Johnson / Flickr/Creative Commons

 SPRINGFIELD, Ill. (AP) - The Illinois House plans to continue debating a proposed income tax increase as the Senate returns to the question of a property tax freeze. 

Illinois Gov. Bruce Rauner says he's urged Republican state senators to keep negotiating for a budget compromise that's a good deal for taxpayers.  The Illinois Senate has been working for months to pass a so-called "grand bargain" that could resolve a nearly two-year state budget impasse. 

House Speaker Michael Madigan says the state's income tax should be restored to the 5% level it was at until January.

Former Gov. Pat Quinn has made a public appearance in central Illinois, saying he still believes an income tax increase is needed to cover expenses and end the budget stalemate. 

Tanya Koonce / Peoria Public Radio

Peoria School District 150 is facing an 11 Million dollar deficit this year. Superintendent Grenita Lathan says the district is also now factoring in additional revenue loss.

The only mention of taxes during Governor Pat Quinn's address at ISU Sunday came when discussing the Republican candidates for Governor. Illinois' largest-ever income tax increase is due to sunset half-way through the fiscal year, but the Chicago Democrat is not saying if he'll support continuing the temporary hike.

Gov. Quinn says pension shortfall is a crisis

Oct 23, 2013

Governor Pat Quinn is disputing a fellow top Democrat's statements that Illinois' nearly 100-billion-dollar pension shortfall is not a crisis. Senate President John Cullerton has said that the pension shortfall is not an imminent crisis, but finding a solution can keep the state's income taxes down.