From WJBD Radio: More reactions are coming in after the Illinois House of Representatives voted to approve a state budget that included an income tax increase.
State Representative Charlie Meier was one of the Republicans who voted in favor of the budget and the income tax increase. Meier sent out a statement Monday, saying he realizes a tax increase is not going to be popular, but called the state “penniless.” Meier cited the threat of Illinois’ credit rating being downgraded to “junk” status as one of the biggest factors in his decision to support the measure. Meier said junk ratings would make it nearly impossible for Illinois to borrow money when needed for running essential state services. Meier said he is still hopeful that a compromise will be worked out that provides property tax relief and tax relief, and encourages the governor to veto the bill if those compromises don’t occur. Meier called his ‘yes’ vote the “least bad” option available to him.
The President and CEO of the Illinois Manufacturers’ Association said that “adding a permanent tax hike without reducing pension costs, lowering property taxes, or enacting economic development reforms is a recipe for disaster.” Greg Baise acknowledged that Illinois needs a balanced budget, but says companies also need stability from taxes.
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