Illinois Democrats plan to raise the state income tax by 66 percent in January according to Senator Tim Bivins, who explained that Governor Pat Quinn’s budget director made the announcement during a recent interview with Bloomberg Businessweek.
“We’re going to pass a tax increase in January. We expect it is going to be substantial,” Quinn’s budget director David Vaught is quoted as telling the national business publication. Vaught said an increase from the current 3 percent to 5 percent is likely. It would cost taxpayers $6 billion and would be the largest tax hike in Illinois’ history.
In 2009, Democrats in the Illinois Senate approved a similarly-sized tax increase, but the House of Representatives has not acted on that increase. It’s unclear from Vaught’s remarks if he was referring to that increase – which could yet be passed by the House – or if he was referring to a new proposal." />Skip to Main Content
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