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Home / IL: Measure to Double Tax StallsIL: Measure to Double Tax Stalls
Last Updated on Friday, 11 April 2008 11:45 Written by rslcpol Friday, 11 April 2008 09:29
Put the word “bad” in front of any or all of the following words, and you get what this is all about:
Policy
Economics
Politics
SPRINGFIELD —
A plan to double the state’s income-tax rate on people earning at least $250,000 a year stalled Thursday in the Illinois House of Representatives, attracting 52 of the 71 votes it needed to advance.The main lawmaker pushing the proposal, Democratic Rep. Mike Smith of Canton, said he isn’t giving up on it.
Smith said a higher income-tax rate for the wealthy would provide much-needed funding for education, infrastructure and tax relief for people earning less than a quarter-million dollars a year.
“I’m not going to drop the issue, sure, if there’s a way that we can do it this year,” Smith said.