House Lawmakers are approving a permanent increase in the Illinois income tax and a spending plan for the next fiscal year. Under the legislation, the personal income tax will increase from 3.75 percent to 4.95 percent, and the corporate income tax would rise to 7 percent. The measure passed on a 72 to 45 vote—that is 57 Democrats and 15 Republicans voting for the measure. Republican State Representative David Harris is one of those 15.
This area’s Republican State Representative, John Cavaletto, did vote in favor of the tax increaseThe package also extends the state earned income tax increase and creates a 250 dollar tax credit for teachers buying their own classroom supplies. Governor Bruce Rauner says he will veto the tax bill, saying the legislature hasn’t passed his reforms. If the 72 votes would hold, that would be enough to override the Governor’s veto.