House Speaker Michael Madigan hoto BY PATRICK YEAGLE UPDATE: On Thursday afternoon, Madigan announced a plan to tax personal income over $1 million at an extra 3 percent, bringing the effective rate for people earning more than $1 million to 8 percent. Individuals with income under $1 million would continue to pay the current […]
Center for Tax and Budget Accountability
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Tiff over taxes
Though they disagree on just about everything else, Ted Dabrowski and Ralph Martire agree on one thing: Illinois’ poor fiscal condition offers an opportunity to make the state better. For Dabrowski, vice president of policy for the Illinois Policy Institute, that opportunity is a chance to spur business investment by letting the state’s 2010 income […]
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Time to graduate?
Illinois grapples with another round of difficult budget cuts, some lawmakers want to eliminate the state’s constitutional flat-rate income tax requirement, opening the door for what some experts call a more equitable and lucrative graduated income tax. Illinois currently has a 5 percent individual income tax for all taxpayers, regardless of income. But a pair […]
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Victory in court nears for developmentally disabled
Rick Wilson of Springfield never thought it was asking too much for his daughter, Jennifer, who has cerebral palsy, to live in a comfortable environment. But when the Wilsons asked the State of Illinois to place Jennifer in a supportive living arrangement for adults with disabilities – instead of an institution – they were repeatedly […]
