Tuesday, April 1, 2014

Predicted Tax Hikes, Even With Pension Reform

'"I will be forthright and specific," declared Illinois Gov. Pat Quinn on Wednesday in the prelude to his budget address, which was anything but that.

The Democratic governor, who assumed office in January 2009 in the wake of his predecessor Rod Blagojevich's impeachment, is up for re-election this year. So naturally, his budget speech is really a stump speech. Hence, Mr. Quinn omitted references to the state's income and corporate tax hikes in January 2011, which will are slated to sunset at the end of the year.

Instead, he noted that "the issue of expiring revenue this year is a real challenge" because "extreme and radical cuts will be imposed on education and critical public services" if "action is not taken to stabilize our revenue code."' READ MORE

Title: "Brace for Tax Hikes, Illinois"
Author: Allysia Finley
Source: The Wall Street Journal
Date Published: March 28, 2014

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