Gov. Pat Quinn signed into law today a bill that substantially increases
the Earned Income Tax Credit, or EITC, a tax credit that gives money
back to families of modest income. In a press release, Quinn said the
bill would save all Illinois working families $105 million a year.
What Quinn did not mention was that the tax relief package resulted
from convoluted negotiations between the governor and General Assembly
that also produced a huge tax break for Sears Holding Corp. and
financial exchange CME Group, Inc. Quinn pushed the EITC increase to
make the corporate tax breaks more palatable to skeptical lawmakers.
Sure, after passing one of the largest income increases in the history of the state, Quinn feels he can get a lot of votes by giving away money to potential voters. He's already given away a large chunk to some of the companies.
How about reducing the income tax, Guv?
Bob Kastigar
IBEW Local 1220, Chicago
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