www.dailyherald.com/story/?id=313817 -
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Published on: 8/14/2009
Last Visited: 8/14/2009
Quinn not backing off tax increase, plans to seek full term as governor
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Pat Quinn
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"We have to have revenue to pay the bills," Quinn told reporters after a ribbon-cutting ceremony to open the Illinois State Fair.
Quinn also said he plans to seek a full term to the post he assumed in January following the arrest, impeachment and ouster of Gov.
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"I think I'm doing a good job," Quinn said.
In addition to the governor's office, Quinn inherited from Blagojevich a budget deficit that ballooned to nearly $12 billion over two years.
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With no consensus on cuts or tax increases, lawmakers and Quinn effectively punted the situation until next year, relying on billions in federal stimulus money, borrowing and yet-to-be determined cuts to get through this year.
Quinn had backed a two-year increase in individual and corporate income taxes that would have raised the individual income tax to 4.5 percent from 3 percent, and the corporate rate would have gone to 7.2 percent from 4.8 percent.
The result would have been nearly $4.5 billion more for state spending.
That plan was rejected by the Illinois House in May.
At the same time, the Illinois Senate approved raising the personal and corporate tax rates to 5 percent and applying the state's sales tax to services such as dog grooming, bowling and a litany of other services now tax-free.
Quinn lent his support to that idea too but it failed to gain traction in the House.
Democratic leaders have said they expect tax increases to be atop the agenda when a new session starts in January.
However, Quinn indicated Friday he'd like to have it taken up in October during lawmakers' brief fall session.
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