Tuesday, March 17, 2009

Illinois: 50 percent income tax hike

Unlike private sector firms that are cutting costs to keep prices steady on their goods and services, the governor of Illinois wants state taxpayers to pay even more for government operations.
Gov. Pat Quinn's budget plan for next year calls for deep sacrifice for Illinoisans, with the governor seeking to increase the state income tax rate on individuals by 50 percent and ask many state employees to take unpaid time off next year to fill an $11.6 billion budget hole.

Quinn is also asking lawmakers to make state employees and retirees pay more for health insurance, increase business taxes and make major changes to the state's pension systems for new employees.

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