SPRINGFIELD – Americans for Prosperity-Illinois has joined an uphill battle to stop a 33 percent income tax hike and more debt the Illinois Senate will be considering next week when lawmakers return to the state Capitol.
Illinois Senate President John Cullerton (D-Chicago) has reportedly worked out an agreement with Minority Leader Chris Radognothat will increase the state's debt by $7 billion while sending the state's income tax rate back up to 4.99 percent.
And that's not all…
"Besides hiking the personal income tax, lawmakers will also vote to hike the corporate income tax to 9.5% (including the state's 2.5% personal property replacement tax), which would give Illinois the fourth-highest corporate income tax rate in the entire nation," AFP's alert said Friday morning.
In addition, an array of service taxes will be set into place and the number of the state's casino licenses will be doubled. In return, taxpayers are promised a two-year moratorium on property tax hikes.
"Illinois taxpayers and small business owners don't need a higher income tax, higher corporate tax, and only a temporary property tax freeze," AFP said. "CONTACT YOUR LAWMAKERS and demand a permanent property tax freeze and spending cuts before asking Illinois taxpayers to forfeit more of their hard-earned money."
