Tuesday, March 31, 2009

Daley discusses Quinn tax hike proposal

WLS-TV:
Chicago Mayor Richard Daley said if income taxes go up under Governor Pat Quinn's proposal, property taxes should go down.

Quinn wants to raise the tax to four-and-a-half percent, but the mayor says if it's going to happen, property owners need some tax relief.

For years, the mayor has advocated what some call a tax swap, wherein the income tax would be raised only if property taxes were lowered a corresponding amount. The mayor said his position on increasing the state income tax has been a long-standing one.

The mayor and other tax swap proponents point out how property taxes have soared in recent years. Daley said he would want an expanded circuit breaker law and cap on property tax increases before he would ever support an increase in the income tax.
You can read more stories about Gov. Quinn's budget plan over at the Capitol Fax!

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