Income tax increase passes house panel - WREX.com – Rockford’s News Leader

Income tax increase passes house panel

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SPRINGFIELD, Ill. (AP) -

A House committee has advanced legislation that would raise more than $5 billion in revenue by increasing taxes.
   
House Revenue Committee members sent the proposal to the House floor Monday on a party-line vote. Senate Democrats approved the measure last week as part of a plan to break Illinois' two-yearlong budget gridlock. Most of the funds it would raise come from increasing the personal income tax rate 32 percent to 4.95 percent.
   
Democratic Rep. Will Davis of Homewood is the sponsor. He says increasing funds is necessary to pay for critical services citizens want and need.
   
But he also called the proposal part of an "ongoing conversation" that could result in an amended version of the Senate's plan.
   
Republican Rep. David McSweeney of Barrington Hills says the tax hike would hurt middle class families.

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