stateincometax coverage by Chicagoist

As Illinois's political leadership struggles to close a daunting hole in the state's budget, the debate over raising taxes versus cutting services brought the governor and legislative leaders to a near standstill. The Center on Budget and Policy Priorities posted an interesting analysis of how different states are coping with decreased revenues in the ongoing economic crisis. They found that many states are looking at a combination of both spending cuts and tax increases to balance state budgets. According to their research, 23 states have raised taxes since the beginning of 2009, and 13 more states are considering tax increases.

Continue reading "A State-by-State Look at Tax Increases in a Recession"