Monday, Mar 2, 2015
Quincy, IL News - QuincyJournal.com
Trending on the Journal

Recent Comments

GuyFawkes10 - All aboard? State cuts could mean fewer Amtrak trains - Quincy, IL News - QuincyJournal.com
Quit serving food. http://www.the-american-interest.com/2012/08/03/a... Maybe vending machines or privatize it.
GuyFawkes10 - Obama to ban bullets by executive action, threatens top-selling AR-15 rifle - Quincy, IL News - Quin
Are you daft? He may or may not support this? The whole point of the article and many others is that he, Obama, is signing a executive order to do this. Proposing a reclassification is one thing but signing an executive order is another. You covering for him is almost laughable if it were not for the erosion of our rights by this man and administration.
LeroyTirebiter - Obama to ban bullets by executive action, threatens top-selling AR-15 rifle - Quincy, IL News - Quin
The BATF is doing this. President Obama may or may not support this, but he has not issued an executive order to do this, as far as I know.
QuincyGuy - All aboard? State cuts could mean fewer Amtrak trains - Quincy, IL News - QuincyJournal.com
Raise the ticket prices. If it is important to those who need it and use it, they will pay for it. Get corporations involved with advertising, etc. to help defray some expenses. The government can't continue to carry the load because WE ARE THE MONEY THE GOVERNMENT SPENDS.
GuyFawkes10 - Obama to ban bullets by executive action, threatens top-selling AR-15 rifle - Quincy, IL News - Quin
Take O out of it, Whose executive order is it?

Most Popular

City starting to look at budget cuts

Obama to ban bullets by executive action, threatens top-selling AR-15 rifle

Adams Co Divorces for Feb 23

Republican Primary election in Quincy today

Schock used taxpayer and campaign funds for private planes, entertainment expenses

QFD at Madison School Wednesday

C-SC to host American Mathematics competition

Blessing Health System to co-sponsor Bridge the Gap race

Millionaire tax amendment advances to House

11 months ago Doug Finke, State Capitol Bureau

Progressive income tax rejected

From Doug Finke, State Capitol Bureau :
An Illinois House committee Thursday signed off on a measure that would allow voters to decide if millionaires should pay more in state income taxes.
At the same time, the House Revenue Committee put a stake in efforts to bring a progressive income tax to Illinois by voting down a proposed constitutional amendment on the issue.
The committee voted along party lines to approve the proposed constitutional amendment by House Speaker Michael Madigan, D-Chicago, that would impose a 3 percent surtax on incomes above $1 million. Income up to $1 million would continue to be taxed at the state's personal income tax rate, currently set at 5 percent.
Madigan said his amendment would apply to the more than 13,000 millionaires in the state. He said it would raise about $1 billion a year that would be distributed to K-12 school districts on a per-pupil basis. Each school district would receive $550 per student regardless of a district's financial health.
“Within our society, those who earn over $1 million are better equipped than others to support education,' Madigan said.
Rep. David McSweeney, R-Barrington Hills, said he was concerned about the impact on small businesses, many of which are set up to pay income taxes at the personal rate rather than the higher corporate rate. Coupled with the 2011 temporary income tax increase, McSweeney said, Madigan's proposal would mean a 167 percent tax increase on those businesses since 2010.
Illinois Manufacturer's Association president Greg Baise called the idea “bad policy and bad form.”
“This is more of a perception tax than a reality,” he said. “It is a perception Illinois wants to penalize success.”
However, Rep. John Bradley, D-Marion, said the surtax is a good approach for areas like his that do not have many millionaires.
“This is an opportunity for a lot of areas in the state to actually do a lot better with minimal impact on my regions,” he said.
The proposed amendment now goes to the full House, which must approve it by a three-fifths vote. The Senate will then have to approve it by the same margin for the issue to appear on the November ballot.

Click Here to Read Full Article


From the Newsroom

QuincyJournal on Twitter

QuincyJournal 33 minutes ago

Political tensions that Schweich faced had mounted - “looked very tense.” http://t.co/4AYkG5XowC
QuincyJournal on Twitter

QuincyJournal 33 minutes ago

Council to decide Madonna House zoning issue - Several requests to speak tonight http://t.co/V4fJSeq3aR
QuincyJournal on Twitter

QuincyJournal 1 hour, 35 minutes ago

QPD Blotter for March 2, 2015 http://t.co/blpgqq6QzR
QuincyJournal on Twitter

QuincyJournal 1 hour, 35 minutes ago

Quincy Park District Youth Soccer registration filling up fast http://t.co/Tb8kgHK4Nf