School Funding 2007 continued

In this season of political maneuvering, many competing plans for funding public education keep evolving and changing hoping to attract more support. HB 750 was approved by The House Elementary and Secondary Education Appropriations Committee on March 29, 2007 and sent to the full House. No immediate action is expected on this bill. This bill now contains a comprehensive tax reform plan that would bring in an additional $9 billion in new revenues that includes over $3 billion for schools. The following components are found in this bill: Property Tax Relief, Funding for Higher Education, Income Tax Increases, Tuition Tax Credits, Corporate Tax Credits, Family Tax Credits, Sales Tax on Services, Increased Funding for Early Childhood Education, Increases in Special Education Reimbursements, Increases to Foundation Level Support and Additional Requirements for how school expenditures are directed.

Governor Blagojevich continues to oppose this plan due to the tax increases contained in the plan. The Chicago Tribune reports that the Governor has embarked on a bus tour of several cities in Illinois to promote his Gross Receipts Tax (GRT). The Governor says that he is anxious for a fight to save the “middle class” and is happy to lead the charge to make business pay their fair share of taxes in Illinois. The Governor’s GRT plan has been modified to increase the taxes on services that will generate an additional $1 billion.
Senate President Emil Jones has said that HB 750 will not be discussed in the Senate as long as the GRT is being discussed.

The General Assembly is on their spring break until April 18th. This would be a great time to contact your local representatives about these issues.