The Illinois House of Representatives has lacked a quorum for two straight days, rendering it unable to vote to override Gov. Bruce Rauner’s veto of the tax hike and budget plan passed by the General Assembly. The Illinois Senate passed the budget plan and tax hike and overrode the governor’s veto on July 4.
House Floor Amendment No. 2 to Senate Bill 9 would permanently increase the individual income tax rate to 4.95 percent and the corporate income tax rate to 7 percent, but would not expand the state sales tax to services.
On June 28 the Illinois House of Representatives failed to pass Senate Bill 484, an illusory property tax freeze that did not offer real reform, left Chicago homeowners out in the cold, and would have left in place an opaque and expensive property tax system that benefits special interests over taxpayers.
Municipal leaders have expressed concerns about the anti-competitive, job-killing effects of Cook County’s minimum wage increases and new sick leave law and are using home rule authority to exempt their communities from the requirements.
The Education Freedom Tax Credit, also known as the Federal Scholarship Tax Credit, will give Illinois students access to donor money if the state opts into the program.