There is a lot to recommend Sen. James Meeks income tax plan,
a bill we've written about extensively over the past year. Meeks'
boost in the personal tax rate is higher than Gov. Pat Quinn's original
proposal (2 percentage points, rather than 1.5), which has led some to
...
There is a lot to recommend Sen. James Meeks income tax plan, a bill we've written about extensively over the past year. Meeks' boost in the personal tax rate is higher than Gov. Pat Quinn's original proposal (2 percentage points, rather than 1.5), which has led some to believe that it is less politically viable. But to the contrary, by generating more revenue, the bill could actually give lawmakers "something to be proud of." Those voting in favor of it could tell their constituents that they've doubled the state property tax credit, delivered relief to low-income earners by increasing the personal exemption and the state's Earned Income Tax Credit, and taken a step towards fixing the state's underfunded and inequitable school funding system. Indeed, unlike various other proposals floating around, it actually passed one of the legislative chambers.
Yet HB 174 continues to receive little attention this month, even as legislative leaders have met regularly on the budget plan. It's as if Gov. Quinn, Speaker Michael Madigan, and the Republican leadership forgot that the Senate existed.
Senate President John Cullerton is hoping to change that. In an appearance on Fox Chicago Sunday this past weekend, the Chicago Democrat assured viewers that Sen. Meeks' bill -- which Cullerton championed -- is not off the table yet. He reiterated his belief that the bill should be the blueprint for the current negotations, adding, "We just want the elements of our proposal to be considered." Watch it:
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