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Illinois News : Proposed tax, increases in Illinois 'keep adding up'
Posted by Ralyn on 2009/5/27 3:00:00 (2821 reads) News by the same author

Proposed tax, fee increases in Illinois 'keep adding up'
Mike Riopell | Posted: Wednesday, May 27, 2009 4:40 pm

*Only a small fraction of article is posted here with link to full article.

SPRINGFIELD – As Illinois lawmakers and Gov. Pat Quinn bat around a handful of tax and fee increase ideas, a typical family of four could face paying about $200 more every year if all of them are approved.

Clearly, there are a lot of variables.

The most obvious ding to paychecks would be an increase in the state’s income tax, which has been touted by Quinn as a way to help rescue the state from financial ruin.

Quinn proposed raising the rate from 3 percent on people to 4.5 percent. Higher deductions would dull the hike on people with lower salaries. And Quinn notes that families of four making less than about $60,000 a year would actually see their taxes go down.

But there’s no guarantee lawmakers would go along. Some are hesitant to anger voters, especially in a recession.

“They just keep adding up,” said state Rep. Keith Sommer, R-Morton.

The median income for a family of four in Illinois is about $72,400, according to the U.S. Census bureau. According to Quinn’s numbers, a similarly typical family of four that made $75,000 would take home about $146 less every year.

The income tax idea remains in a legislative limbo, but lawmakers have already approved tax and fee increases to pay for upgrades to state roads, bridges and buildings. Quinn has yet to sign off on them.

They call for the cost of annual car registrations to go up $20 to $99. A family of four with two cars would be obviously hit up for $40 more a year. Non-yearly fees such as driver’s license and vehicle transfer fees would also go up.

Read the rest of the article - Quad City Times

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