Community Corner
Where Does Most of the Tax Revenue Come From in Illinois?
Your pocket, of course. But which counties in Illinois contribute the most to tax revenue in the state?
For those people who want the state of Illinois to excommunicate Chicago and/or all of Cook County, here's a sobering thought: If that happened, Illinois would lose roughly half of its tax revenue.
And if you extend that excommunication to include the collar counties along with Chicago, Illinois would lose 70 percent of its tax return.
Don't believe us? We've got a chart to prove otherwise.
The total tax return could be less next year if the temporary income tax hike put in place in 2011 is allowed to be rolled back by lawmakers. If that happens, that would drop the tax rate from the current 5 percent to 3.75 percent on Jan. 1. Republicans are in favor of that, but the Democratic leaders in the state are not.
Gov. Quinn has tied his 2015 state budget to making the tax hike permanent, but the window for Springfield to vote on the tax hike and subsequently pass a budget is closing.
As the end of the spring session looms, House Speaker Michael Madigan admits he is not close to getting the 60 votes needed for the tax to be passed.
Time is running out in the Illinois House.
This article appears on all Patch Chicago sites. The views expressed in this post are those of Reboot Illinois and do not reflect those of Patch or its editors.
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