News

“Doomsday Budget” Overwhelmingly Fails

“Doomsday Budget” Overwhelmingly Fails

Photo: Newsradio WTAX

A budget presented in the Illinois House Friday that assumes the income tax increase will expire at the end of the year failed overwhelmingly.

The 5 percent income tax rate is set to roll back to 3.75 percent at the end of the year, unless action is taken by the legislature – and there aren’t enough votes to do that, according to the House speaker.

A $37 billion budget passed last week assumed the income tax rate would be made permanent. The alternative budget voted on today would spend $34.5 billion.

“As of today, the facts are that the tax won’t be extended, and we’re going to have additional pressures,” said State. Rep. Fred Crespo (D-Hoffman Estates), who sponsored the bill with the spending cuts. It failed with 107 representatives voting no.

Republicans claimed the budget cuts need not be as severe as the governor as claimed.

The clock is ticking to finalize a budget before session lets out at the end of the month.

Recent Headlines

56 mins ago in Music

Eddie Vedder and Chris Cornell cover the Beatles for new show

Fresh
eddievedder

The two rockers will join The Shins, Pink, Sia, Of Monsters And Men, and James Bay, among others, on the soundtrack for a new Netflix show, "Beat Bugs."

1 hour ago in Music

Sting back on top of the charts with 12-year-old song

Fresh
sting

A reworked version of a 2004 hit is back on the Billboard charts again - proving Sting is as popular as ever.

2 hours ago in Entertainment

Cosby’s wife must give deposition in civil suit, judge rules

Fresh
cosby

Bill Cosby's wife will have to talk to lawyers bringing a defamation lawsuit against the comedian but cannot be compelled to reveal private conversations with her husband, a federal judge has ruled.