In a move that Republican leaders say cut off negotiations as the new fiscal year began, the House passed a bill that could net $5.4 billion in revenue by raising income and corporate taxes.
Reps. Elaine Nekritz (D-Northbrook), Laura Fine (D-Glenview), Carol Sente (D-Vernon Hills), Scott Drury (D-Highwood) and Fred Crespo (D-Hoffman Estates) voted for the 33 percent tax hike.
Despite Republican leaders’ opposition, 15 House GOP members also voted to approve the measure.
Elaine Nekritz
Senate Bill 9 would raise the personal income tax rate to 4.95 percent from 3.75 percent and the corporate tax rate to 7 percent from 5.25 percent.
Many Republicans, including House Minority Leader Jim Durkin (R-Western Springs), criticized the bill, saying it does not address the underlying problems in the state. Durkin was disappointed to see negotiations stopped.
“We (Republicans) have participated in good faith,” Durkin said. “I have, every day, worked to find the right balance in how we can fix Illinois, not just by raising taxes but by reducing spending and also making sure there are meaningful reforms to make Illinois an attractive state for families and businesses. Without that, the exodus will continue. I am disappointed that we are taking this up at this moment when there has been significant progress [made] to address the priorities of the governor and also the priorities of the caucus.”
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