Quinn's Budget Keeps Income Tax, Offers Property Tax Refund - News and Weather For The Quad Cities -

Quinn's Budget Keeps Income Tax, Offers Property Tax Refund

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SPRINGFIELD, Ill. (AP) - Gov. Pat Quinn says he wants to give homeowners relief by offering a tax refund for those who pay property taxes.

The Chicago Democrat gave his budget address to lawmakers on Wednesday. He called for making the income tax increase permanent. The income tax is set to rollback in January, leaving a roughly $1.6 billion revenue drop.

Quinn says that each homeowner will get a $500 property tax refund each year. The budget speech comes as the state has massive financial problems, including billions in unpaid bills, a low credit rating and uncertainty with its pension debt.

 

 

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