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Funding Wars Continue
Rumors continue to abound in this budget season in Springfield. There is growing consensus that the Governor’s GRT plan is DOA at least in his proposed form. HB 750 is also floundering. In this environment several compromise plans are beginning to evolve.
One such compromise could involve a much smaller GRT component, a land based casino for Chicago and a minimal income tax increase of perhaps 1% instead of 2%. Such a plan could potentially generate funds to achieve the goals of HB 750 without expanding the sales tax increase as originally proposed. Obviously this compromise could enrage many people including: The Governor, GRT advocates, gambling opponents, and anti-tax people everywhere. Things will continue to heat up as we move closer to the normal legislature adjournment day.
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