Menu

Tax

Tax Hike on the Horizon for IL?

ACCE Webmaster on Monday, June 8, 2009 at 6:03:09 pm

Newly seated Illinois Governor Pat Quinn was out stumping this weekend to boost public support for his balanced budget plan.  The Governor is calling for an income tax hike that he believes is necessary to maintain the services state residents rely on.  Gov. Quinn said:

"If we don't get the budget that we need that's decent and fair and reflects the values of Illinois within a very short period of time -- I would say a week or so -- I'm going to lay out the consequences of the legislature's failure to provide revenue for our state and for our budget,"

State legislators have sent the Governor a spending plan for 2010, but have yet to sign on to his proposed tax increase to fund their spending.  Illinois' budget year starts on July 1.  Read more in this article from the Chicago Tribune.

Most states are facing similar difficult choices with respect to their budgets this year.  What steps is your state taking close budget gaps?  Cutting expenditure, raising taxes and fees, both?  What makes since in the short term and will help promote long term economic growth?  Leave a comment with your thoughts.

We'll dig deep into this issue at the 2009 ACCE Convention in Raleigh.  Join us on on Friday, July 31 at 2:45 pm for State Budgets and Their Impact on Local Communities, an issue forum featuring guest speakers from the Council on State Taxation, The Rockefeller Institute and the Kentucky Chamber.

OFFICIAL CORPORATE SPONSORS
Accrisoft is an Official Corporate Sponsor of ACCE American Express is an Official Corporate Sponsor of ACCE Aventura World by Central Holidays West is an Official Corporate Sponsor of ACCE, the Association of Chamber of Commerce Executives Benfits Trust is an Official Corporate Sponsor of ACCE Citslinc is an Official Corporate Sponsor of ACCE Grow With Google is an Official Corporate Sponsor of ACCE New Insperity Market Street Services is an Official Corporate Sponsor of ACCE, the Association of Chamber of Commerce Executives The U.S. Chamber is an Official Corporate Sponsor of ACCE Vistage is an Official Corporate Sponsor of ACCE
SILVER SPONSORS
Avalanche Consulting sponsors ACCE, the Association of Chamber of Commerce Executives CardConnect sponsors ACCE, the Association of Chamber of Commerce Executives Constant Contact POWER 10 sponsors ACCE, the Association of Chamber of Commerce Executives United Networks of America is an Official Corporate Sponsor of ACCE YouScience sponsor ACCE, the Association of Chamber of Commerce Executives
Sponsorship and advertising opportunities Association of Chamber of Commerce Executives