By Dennis Byrne
“Stateline,” a daily newsletter of the Pew Charitable Trust reports, “States Pursue Tax Cuts as Recovery Takes Hold.”
Of course not in Illinois where Gov. Pat Quinn wants to makes permanent his temporary, huge income tax increase and House Speaker Mike Madigan and his henchmen are pushing to impose a surcharge on millionaires. As for our immediate neighbors, Stateline reports:
Indiana Gov. Mike Pence, a Republican, has also been battling local governments over cutting taxes. Pence signed a bill this week that reduces the corporate income tax from 6.5 percent to 4.9 percent in steps by 2021. He signed the bill despite opposition from local governments, which get $1 billion annually in corporate tax revenue.
Pence said the law “does not unduly burden our local governments. It gives our local governments the ability to make decisions for themselves about what would enhance their ability to attract investment.”