Light Snow
18°FLight SnowFull Forecast
Shaw Media Auctions

Cullerton: Income tax assures 'fiscal stability'

Published: Wednesday, March 26, 2014 1:00 p.m. CST

SPRINGFIELD (AP) — The Illinois Senate president agrees with Gov. Pat Quinn on extending what was supposed to be a temporary income tax increase.

John Cullerton is a Chicago Democrat. He also praised the plan Quinn announced Wednesday to provide homeowners $500 in property tax relief annually.

Cullerton said after Quinn's budget speech that the state used the income tax increase from 2011 to pay down $3 billion in back-due bills and fully fund large pension payments.

But Cullerton says the state must maintain the same level of revenue in order to "stay on this path of fiscal stability." If the income tax expired in 2015 it would cut a $1.6 billion hole in the budget.

He says it would be unacceptable to allow draconian cuts in state services — including education.

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

National video



Reader Poll

Rock Falls is considering a ban on leaf burning. Should the city finally take that step?
Yes. Sterling and Dixon have had bans for years. It’s time for Rock Falls to impose a ban.
No. It would be too great a burden for homeowners to dispose of fallen leaves in other ways.
Not sure
No opinion