One local lawmaker believes a decision will have to be made soon on the future of the temporary state income tax increase that is set to expire in a few months. While no decision was made during the regular session of the Illinois General Assembly, Democrat State Representative Dan Beiser of Alton says action is likely because so much rides on the timing of any reduction.
During an appearance on The Big Z, Beiser says while the law calls for an immediate reduction in the tax rate from 5-percent to 3.75 percent at the end of the year, that reduction would have a significant impact on many levels of state government, including hospitals and schools. He believes a gradual decrease in the tax could be a compromise:
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Beiser says he’d be in favor of gradually rolling back the tax but will have to see what plan is proposed, possibly as late as the so-called lame duck session of the general assembly in early January.