Budget Boost From Tax Increases And Gambling

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By Jeff Muniz

State lawmakers in Springfield are again working down to the wire on getting a budget deal done this weekend. The deadline is Sunday night.
On Saturday, lawmakers in both chambers of the General Assembly are tackling tax increases to fill an $11-billion deficit.

Committees in both the house and senate approved different tax increases Saturday.

The Senate passed a plan Saturday night that would permanently hike the income tax to 5-percent and generate more than 5-billion dollars. The Senate's version now moves to the house.

The house's current plan would increase the personal tax rate by 50-percent to 4 and a half percent for just two years. It would generate more than 4-billion dollars.

Supporters say without the tax increase, it will likely take significant cuts to vital state services to balance the budget.

The Senate also approved significant gambling expansion in Illinois. The legislation would add casinos in Chicago, Rockford, Park City in Lake County and Danville.

The vote was 30-28. The state's expected to take $1 billion a year from the extra casinos. Meanwhile, existing casinos could add up to
800 gambling slots.

Opponents say the legislation makes Illinois the largest gambling-dependent state in the nation. This measure also now moves to the House.

Wednesday, Jun 17 at 9:47 AM Yep wrote ...

Oh yippee...more taxes, record high unemployment, gas companies putting it to us, etc. Where did I put my rose-colored glasses?!

Tuesday, Jun 9 at 11:21 AM Anonymous wrote ...

Seems like all of our jobs have gone to other states. We can't make ends meet. Our people are losing jobs they have had for years. Now we have to raise our daily taxes, to add to our already lower budgets. Our childcare is at risk. To add to it our living costs keep going up with the cost of electricity and natural gas going up and also our gas prices at the pump to go anywhere. Anymore, I don't know how I am going to make ends meet.

Tuesday, Jun 2 at 6:14 PM kevin wrote ...

All I can say is the politicians spent irresposibly for the past several years like money was no object, now their only answer is to raise taxes when the economy is . Well go ahead, raise taxes, and then start packing your bags, cause next election your all out.down, people out if work, prices going up on everything

Sunday, May 31 at 12:49 PM EDD wrote ...

Thats it Illinois hit the 1000's of unemployed right where it hurts. If state tax is increased to cover a debit we didn't make it will kill the unemployed at tax time we will owe the IRS and they will take will little they have left. STOP and think how much you will hurt the already hurting. WE need to EAT and have money pay the high gas prices to even look for work STOP find another way we here in Illinois have been hurt enough.

Sunday, May 31 at 8:59 AM vern wrote ...

If the gamblers can make such a difference, we can do better than raise income taxes on us all. We can decrease jail, court and police costs while making a ton of money if we legalize pot or prostitution. Nevada has no cash woes and they have a strong moral population among the visible and profitable vice. Might at well acknowledge these vices in society and profit from them. There would be public health benefits also. Another benefit, my taxes would not change!

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