Thursday, Aug 21, 2014
Quincy, IL News - QuincyJournal.com
Trending on the Journal

Related Headlines

State Rep. Smith found guilty of bribery, attempted extortion

Madigan says he doesn't have votes for tax hike

Speaker Madigan talks minimum wage

What Mike Madigan won't say about education spending

Madigan proposes tax on millionaires

Recent Comments

1950Brutus - Westview undergoing renovations, becoming more environmentally friendly - Quincy, IL News - QuincyJo
Just about anything they do to #3 and #4 greens will be an improvement. #4 is much to sloped for the size of the green. While #3 is larger there aren't enough locations for good pin placements. There isn't a flat spot on the entire green. Also both greens are plenty large left to right but too small front to back. #3 fairway needs larger flat spot areas in the fairway also. I will look…
qfingers - Ferguson police officer was badly beaten before shooting Michael Brown - Quincy, IL News - QuincyJou
One can only hope the grand jury does the right thing based on the evidence they review. I fully believe that at some point Brown may have raised his hands...and then charged the officer. So if you marry all the accounts together including the injuries sustained you get a pretty clear picture of what happened that matches the witness accounts. They have quite a few now who say they saw the confrontation…
CoolEdge - Strawman: Eric Holder To The Rescue..... - Quincy, IL News - QuincyJournal.com
This is Trayvon Martin redux ... Obama needs to incite his base to riot, with an election approaching, and the world on fire. Crump and Sharpton show up to make false/racist allegations, and turn a local situation into a national media circus. They COULD demand justice for INNOCENT black kids that get shot, but those are killed by blacks, mostly gang members. 91% of blacks are killed by other…
ssullivan1005 - Ferguson police officer was badly beaten before shooting Michael Brown - Quincy, IL News - QuincyJou
Where are the pictures of these injuries? The video of Michael Brown in the store shoplifiting cigars was released. Why not pictures of the officers injuries? This situation could be put to rest if he was as badly injured as this article claims.
1950Brutus - Ferguson police officer was badly beaten before shooting Michael Brown - Quincy, IL News - QuincyJou
When the Fed "investigation" wraps up these injuries may be attributed to the officer slipping on a bar of soap.

Most Popular

Liberty woman dies in early morning crash

QPS Board approves $89 million Bond Issue Video

Man who burned down Newcomb Hotel arrested again

Adams Co. Divorces for August 16, 2014

Driver in fatal Liberty crash now facing charges Updated

Six Quincy property owners face deadline

Ferguson police officer was badly beaten before shooting Michael Brown

QPD no longer looking for missing Quincy man Updated

Madigan proposes corporate income tax cut

6 months, 2 weeks ago pantagraph.com

Rate would drop from 7 percent to 3.5 percent under the plan

From pantagraph.com:

House Speaker Michael Madigan on Thursday proposed cutting Illinois' corporate income tax in half in an effort to improve the state's business climate, a move that also could help blunt election-year criticism that Democrats' policies are to blame for a sputtering economy and stubbornly high unemployment.

The legislation would cut the rate from 7 percent to 3.5 percent, effective Jan. 1, 2014. The powerful Chicago Democrat said it would save businesses an estimated $500 million to $700 million in the current fiscal year, which ends June 30.

"I am hopeful this legislation will encourage CEOs to grow their workforces with good paying jobs," Madigan said.

But business groups offered tepid praise, saying it would impact only a fraction of Illinois companies and that other taxes - particularly the personal income tax - are of greater concern.

Kim Clarke Maisch, Illinois director of the National Federation of Independent Businesses, said 75 percent of small businesses are organized in such a way that they pay personal income taxes on all business income. According to the Legislature's Commission on Government Forecasting and Accountability, of the companies organized to pay corporate income tax, about 70 percent had no tax liability in 2010.

"It's a step in the right direction, but the real job creators are small business owners, so if we're looking to give them relief, it would be better if we were to focus on the personal income tax as well," Maisch said.

Speaking to reporters in Chicago, Gov. Pat Quinn said he hadn't talked to Madigan and wouldn't say whether he supported the idea in advance of next month's budget address.

"We'll be preparing a budget," Quinn said. "We'll look at everybody's concepts."

Democratic lawmakers in 2011 approved a temporary tax hike as a way to address Illinois' fiscal crisis. It raised the corporate income tax from 4.8 percent to 7 percent and the personal income tax from 3 percent to 5 percent.

Republicans have made the tax increase a big focus heading into the 2014 election, arguing that the Democrat-controlled Legislature squandered the billions in additional revenue and that the hike drove businesses out of state. They note Illinois still has a roughly $6 billion backlog of unpaid bills and one of the highest unemployment rates in the nation.

The issue also has become more prominent this year because the higher rates are scheduled to roll back on Jan. 1, with the corporate rate dropping to 5.25 percent and the personal income tax to 3.75 percent. Those changes would reduce revenues by about $2 billion in the second half of the next fiscal year, forcing lawmakers to either cut spending or pass new tax legislation.

Click Here to Read Full Article


From the Newsroom

Bob Gough on Twitter

Bob Gough 1 hour, 5 minutes ago

RT @sinderbrand: WH pool report, via @shearm : "Admit it. You all made small-dollar bets that POTUS would be playing golf today. And ... yo…
Bob Gough on Twitter

Bob Gough 2 hours, 54 minutes ago

QuincyJournal on Twitter

QuincyJournal 3 hours, 15 minutes ago

Online enrollment on the rise at JWCC http://t.co/6rGRiBJMxy
QuincyJournal on Twitter

QuincyJournal 4 hours, 15 minutes ago

State retiree insurance premiums dropping to pre-July 1 levels http://t.co/VeFM7puHVy