SPRINGFIELD, Ill. (AP) – Illinois’ powerful House speaker says a vote on Democrats’ 2015 budget will help build support for an extension of the state’s temporary income tax increase.
Michael Madigan made the comments at the state Capitol Wednesday. He spoke after Democratic lawmakers in the House began advancing a budget plan mirroring the $38 billion budget Gov. Pat Quinn outlined in March, which keeps current tax rates in place.
The state’s income tax is scheduled to roll back in January, dropping from 5 percent to 3.75 percent. That would cause an estimated loss of at least $1.6 billion in revenue next year.
Madigan says the budget will “set the bar” and help convince undecided members to vote for the tax increase.
It could be voted on as early as Thursday.
(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)
MORE POLITICS NEWS:
- Sanders Campaign Influences Democratic Party Policy Draft
- DNC Committee Meets in St. Louis
- St. Louis Board of Aldermen Facing Budget Woes
- Nixon Signs Bill to Connect Prisons, Hospitals to Local Food
- How Will Brexit Decision Impact Mississippi River Exports?
- Slay Offers to Meet with Stenger Over MetroLink