Illinois Tax Amendment Fails; What this Means for the State Budget
The Illinois Tax Amendment failed to pass after a 55 percent no vote.
Sen. Andy Manar (D-Springfield) said he knows the voters of Illinois have spoken, and the constitution can only be changed with approval of the voters in the state, but he says he believes the tax amendment was the best way to balance the state's budget.
"It's a reasonable expectation to say the wealthiest 3 percent of folks in Illinois should pay a little more than the rest of us," Manar said. "The challenge with our budget, going into this fiscal year, has become exponentially more difficult with the defeat of the fair tax."
The president and CEO of the Illinois Chamber of Commerce, Todd Maisch, said he believes raising taxes on the wealthy wouldn't make a dent in the state's budget crisis.
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Sen. Andy Manar (D-Springfield) said he knows the voters of Illinois have spoken, and the constitution can only be changed with approval of the voters in the state, but he says he believes the tax amendment was the best way to balance the state's budget.
"It's a reasonable expectation to say the wealthiest 3 percent of folks in Illinois should pay a little more than the rest of us," Manar said. "The challenge with our budget, going into this fiscal year, has become exponentially more difficult with the defeat of the fair tax."
The president and CEO of the Illinois Chamber of Commerce, Todd Maisch, said he believes raising taxes on the wealthy wouldn't make a dent in the state's budget crisis.
Click Here to read more.