Gov. Quinn Delivers First Budget Address
By: Lori Obert - WMBD/WYZZ TV
Updated: March 18, 2009
Gov. Quinn started his speech by acknowledging Illinois has never faced a more serious crisis, financially, economically, and ethically.
He says his approach to addressing the crisis
is three pronged. He wants to cut costs
and spending, create jobs, and the initiate tax reform/.
The Governor proposes a 50% income tax increase, from 3 to 4/12 percent. He says the increase will be offset by a
change in tax exemptions.
The Governor's tax plan seemed to draw the
most controversy at the Statehouse. Though
he says with the change in exemption, most families will come out ahead. The Governor also emphasized fixing under-funded
pension systems.
He'll also
appoint a Reform Commission to investigate Government finance and practices.
