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 […]
income tax
Posted inNews
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 […]
Posted inOpinion
Taxing work
In 2011, the General Assembly, kicking and screaming, did what was good for it and ate its spinach. Members raised the rate at which the State of Illinois taxes the income of its citizens, thus forestalling a revenue crisis. That tasted so bad that they could not swallow it; the rate will have to be […]
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State education funding woefully inadequate
Properly educating a schoolchild in Illinois takes upwards of $2,200 more per pupil than the state currently ensures, according to the latest report from Illinois’ Education Funding Advisory Board. EFAB, which earlier this month issued its first findings since 2005, is charged with recommending to state lawmakers an appropriate “foundation level” – the minimum amount […]
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Green for governor
If you knew where to look you might have seen him – bearded, bespectacled and biking through Springfield. Looking more like a college professor than a politician, the Green Party candidate for governor, Rich Whitney, spent May 20 through 28 riding his bike and various trains on a 650-mile tour across the state to promote […]
