Illinois House Speaker Mike Madigan (D-Chicago) says there are only 34 votes in the Illinois House to extend the 5 percent income tax beyond the end of this year. Sixty votes would be needed. The 2011 tax increase, raising the state's flat income tax rate from 3 percent to 5 percent, is set to roll back to 3.75 percent at the end of the year. The governor has urged legislators to extend it.
Click here for summary
Madigan says with the session ending on May 31, the next step is to work on a new budget that would not rely on the revenue from that tax. Spending would be $34.5 billion versus the previously estimated $37 billion. “We’re getting closer to the end of the month. I have instructed the appropriation chairs to go back to work and draft yet an alternative budget,” said Madigan.
Serving the areas of Alton, Godfrey, East Alton, Wood River, Roxana, Edwardsville, Jerseyville, Brighton, Bethalto, Grafton, Granite City, Hartford, Highland, Troy, Fairview Heights, Belleville and the surrounding cities.