Quinn Confirms Trib's Tax Hike Story

By Marcus Gilmer in News on Mar 13, 2009 7:20PM

The Trib has updated its story that Gov. Quinn plans to raise the state income tax with a confirmation from the governor himself. Check out our first post on the topic here and check out the Trib's update below.

Gov. Pat Quinn today acknowledged he plans to raise income taxes in the wake of a Chicago Tribune story that he is considering a 50 percent increase on individuals. He declined to confirm details in the Tribune report, which said he is looking at raising the personal income tax from 3 percent to 4.5 percent as well as increasing personal exemptions.

"There will be some that will have a higher tax burden," Quinn told reporters today during an impromptu news conference at the James R. Thompson Center, adding it would be based on the ability to pay. Quinn said an increase would be part of a "fundamental reform" of the income tax system that would provide tax relief for many Illinoisans. He said that would come from more generous tax exemptions for working families who are suffering amid the nation's economic decline.