The State Budget
There are some things we know about the proposed state budget, and other things we don't. Governor Quinn mentioned sweeping some special funds and closing corporate tax loopholes. So far, we have not seen a list of the fund that might be swept, or many details either on the loophole closures. The Illinois Taxpayers Federation, of which IFCA is a member, has provided an analysis of what we do know and it's posted on the IFCA homepage. Please take a look at it this document and evaluate how this proposal may impact your business. IFCA is already working to ensure that funds within the Dept of Ag are not swept and we are always prepared to defend our agricultural input and machinery sales tax exceptions. There is also talk of an 8 cent per gallon fuel tax although Governor Quinn himself did not propose that. Feel free to share your thoughts/concerns/suggestions with Jean Payne on these issues. Our position is that state government spending should also be reigned in but the political reality is that this is a long shot while higher taxes are likely inevitable.