SPRINGFIELD – As reviewers get a chance to scour Illinois first budget in three years, they're finding how Illinois Democrats (and a few Republicans) not only raised state income taxes by 32% and kicked the can down the road on the state's impending pension disaster, but hiked the state's gas tax yet more.
Rockford's Q98.5 writes about the budget's 5 cent per gallon tax hike:
When state lawmakers approved the Illinois budget last week that included a provision to raise the state income tax rate to one of the highest rates in the history of Illinois, state lawmakers, under the direction of Illinois House Speaker Michael Madigan (D), snuck in another tax increase, that will hit you every time you fill up your car or truck.
Yes, a gas tax increase of 5 cents a gallon. Rockford Senator Dave Syverson, took to social media on Monday night to remind his constituents that “back door gas tax increase” was approved. So how does this work, according to Syverson, the back door gas tax is:
a tax at the wholesale level, which raises the retail price. This move will add approximately 5 cents a gallon. ($95 million total)
Yet another reason why this budget plan was wrong.So, if you fill up a 20 gallon tank when you go to fill up, it will add a $1.00 on to the average fill up. If you fill your car. If you fill up once a week, this new back door tax will add about $52 to you gasoline bill, every year. Truck drivers and transportation companies will notice it even more as their gas consumption levels are much higher. Those costs, of course will be passed on to the cost of good the consumer will pay.
Read More: The Secret Tax In the Illinois Budget No One is Talking About | http://q985online.com/the-secret-tax-in-the-illinois-budget-no-one-is-talking-about/?trackback=fbshare_mobile_top&trackback=tsmclip
