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Illinois Governor Drops Demand for Income Tax Hike (For Now)

1 min readBy: Joseph Bishop-Henchman

He all but locked state legislators in their chamber demanding a hike in the state income taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. from 3% to 4.5%, but Gov. Pat Quinn (D) is now backing off:

In an interview with The Associated Press, Quinn said he plans to speak next week with lawmakers about passing an unbalanced state budget that includes significant spending cuts. Then, in November, he would ask lawmakers to choose between balancing the budget by cutting even further or by raising taxes.

“There’s a fork in the road here. When we come to that time, the decision will have to be made,” the Chicago Democrat said. “My own view would be that we should pass revenue and not have cuts that are harmful to the public interest.”

More on Illinois here.