Politics

• May 30, 2007 11:11 pm US/Central
• Digg | Facebook | E-mail

  Close WindowE-mail This Page

  State House Approves Budget With New Business Tax

  Required fields are marked with an asterisk(*)

  ---

  • Recipient E-mail:* 
  • • Your Name:* 
    • Your E-mail:* 
  • Add a Message:
  •   Send me a copy of this e-mail.

  • Type the characters in this picture:* Click here to refresh with new letters

  ---

  The information you provide will be used only to send the requested e-mail and will not be used to send any other e-mail communications. Read more in our Privacy Policy

  Send E-mail

  | Print

State House Approves Budget With New Business Tax

Illinois House Democrats Are Expected To Pass Budget Wednesday Evening

 SLIDESHOW: The Graduates: CBS 2 Anchors And Reporters

SPRINGFIELD, Ill. (CBS) ― The Illinois House approved Wednesday night the revenue portion of Speaker Mike Madigan's budget proposal. It includes $300 million in new business taxes and no new casinos.

The spending part of the budget may come up for a vote later Wednesday night. The plan could run into opposition from the governor, and from Senate President Emil Jones.

They favor a bigger spending increase.

But sources say Madigan plans to adjourn the House Thursday. Meanwhile, the Senate Executive Committee advanced a broad gambling expansion plan. It approved four new casinos, including a land-based casino in Chicago.

The House Democrats' plan does not make full pension payments that are due to state pension funds. It raises taxes on businesses by closing some exemptions that are worth several hundred million dollars, and it leaves Mayor Richard M. Daley facing potential cut-backs and lay-offs at the Chicago Transit Authority and Chicago Public Schools.

As CBS 2 Political Editor Mike Flannery reports, after meeting privately with the elites of the House Democrats, Madigan declined Wednesday afternoon to say anything to reporters. Madigan did tape an appearance on public television later in the afternoon, putting off a planned meeting with Governor Rod Blagojevich.

Madigan left it to rank and file Democrats to explain the state budget he called for a vote Wednesday evening.

When asked if he thinks a vote on anything is a step in the right direction, Rep. Jay Hoffman (D-Belleville) said, "The way things have been going, yeah."

Rep. Al Riley (D-Olympia Fields) said, "We're looking at a bill that frankly tries to include as much as we possibly could for education and some health care and basically all the things that we wanted over in the House."

"Their budget requires a $300 million tax increase… and it's not something I see any of the members of our caucus supporting," said minority leader Rep. Tom Cross.

And something else expected Wednesday night: sources tell CBS 2 a bill that would roll back ComEd rate hikes and would freeze the rates for three years and put in a new scheme of regulation of state energy prices may be called in the Illinois State Senate. It if is called, almost everybody in the capitol thinks it's going to be passed, and Blagojevich says he would sign that bill.

(© MMVII, CBS Broadcasting Inc. All Rights Reserved.)