(Springfield, IL) — The state of Illinois took in nearly a billion-dollars less in tax revenue during the first quarter of the fiscal year than it did during the first three months of fiscal 2015. The downturn wasn’t unexpected since lawmakers and Governor Rauner allowed a temporary income tax increase to expire. Overall receipts are down by 987-million-dollars with personal income tax accounting for almost 700-million-dollars of that decline. Revenues from corporate income taxes, utility taxes and court settlements are also down.
David Stewart/css IL) STL) MO) NE(
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