Be sure to read the Chicago Sun-Times' lead editorial this morning on Illinois' budget deficit, in which the paper comes out in favor of a "substantial" income tax increase and echoes themes you've read on our site for months:
Even with massive budget cuts, substantial government restructuring and pension reform, there is no way to balance the state budget -- and maintain quality schools, social supports and other vital services -- without a major influx of new revenue. lllinois' 3 percent income tax rate, you'll recall, is among the lowest in the country. The overall tax burden for Illinois residents, as a percentage of personal income, also is among the lowest in the country.
The editors also lament how Gov. Pat Quinn "backed himself into a corner" when he promised to veto any tax increase larger than 1 percent. By dropping his emphasis on fundamental tax reform and offering "a measly compromise" this past March, Quinn left himself with few weapons to tackle what's turned out to be a massive crisis.