After more than two years of political fighting, failed attempts to expand legalized gambling, and declining credit ratings, Illinois lawmakers on Thursday did what their colleagues in other states seem to do just about every year, pass a state budget.
The narrow veto override in the state House, with the 71 votes of the 113 members that were needed, ended the stalemate. The state’s $36bn spending plan for the fiscal year that began on July 1 raises the state’s personal income tax from 3.75 percent to 4.95 percent.
That $5bn tax increase will cost a family earning $100,000 an extra $1,200 a year in taxes.
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