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eaglebeaky - Illinois lawmakers to discuss money for Obama library - Quincy, IL News - QuincyJournal.com
Wall Street was solidly in the Romney/Ryan camp last time, pjohnf. (And assuming he's the nominee, they'll certainly be in Ryan's camp in 2016.) Why is it that you seem to think that they're Obama supporters?
eaglebeaky - Illinois lawmakers to discuss money for Obama library - Quincy, IL News - QuincyJournal.com
When did presidential libraries start taking this kind of funding? (I always thought they were privately funded... or at least I remember hearing that the Clinton and Bush #43 libraries were being done that way.)
eaglebeaky - Voter rights, crime victim rights amendments set for fall ballot so far - Quincy, IL News - QuincyJo
Off-topic, but just to clarify, I will say that the disabled individuals that I've worked with aren't the least bit interested in free phones or anything like that. (Many of them will never live independently in their own communities; any such "bribes" would be meaningless to them.) Of course there are opportunists who do try to take advantage of every social program under the sun, and…
AYHSMB - Illinois lawmakers to discuss money for Obama library - Quincy, IL News - QuincyJournal.com
Correct me if I'm wrong, but I believe Reagan, Bush 1, Clinton, and Bush 2, had libraries built with private funds. I can't believe Soros or Buffett (or the Clinton's ;P) aren't contributing to the bill for Obama. Rahm is even stumping for it, as he says it will be a big tourism money maker. Hey, I'm all for it, if it is. On a side note, I think this is the first presidential…
eaglebeaky - Voter rights, crime victim rights amendments set for fall ballot so far - Quincy, IL News - QuincyJo
I honestly couldn't care less about anybody's party affiliation. This ID issue actually has A LOT to do with poor people, the elderly, and people with disabilities -- regardless of their personal politics. (There are a lot of poor people in the south who are lifelong Republicans.) Arbitrarily-enacted voter ID laws ultimately won't disenfranchise you or me... but they do have a real…

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Madigan proposes corporate income tax cut

2 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.

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