SPRINGFIELD…..After two years and two days without a budget, today in Springfield, members of the House of Representatives approved revenue and spending packages that aim to end the budget impasse. SB06 (spending) was approved by a 81-34 vote and SB 09 (revenue) by a 72-45 vote. SB09 would permanently increase the individual income tax rate to 4.95% and the corporate rate to 7%, among other provisions. In response to the action on the House Floor today, State Representative David S. Olsen (R-Downers Grove), who voted against both bills, has issued the following statement:
“I’m disappointed that a rushed vote on these two bills was taken today. Hundreds of pages of amended language were released just hours before the vote, and the bills were not the result of completed negotiations between Republicans and Democrats.”
“Additionally, SB06 and SB09 are not accompanied by the reforms Illinois desperately needs and represent the failed approach of raising taxes without addressing the underlying issues hurting our State. I do not believe these bills represented the best possible compromise and thus, could not support them today. Despite this action, I hope that Republicans and Democrats can continue to negotiate and agree upon reforms crucial to turning around our State.”
