The personal income-tax hike is expected to net the state roughly $6.2 billion, and a corresponding corporate income tax increase could raise an additional $1 billion, Cullerton said. The rate businesses pay would temporarily jump from 4.8 percent to 8.4 percent.The cigarette tax increase, which is expected to raise $377 million, would go into what was described as a "lock box" to increase education funding.My guess would be that Cullerton doesn't realize (or maybe does) that business are struggling in Illinois (of which he, seemingly, has little awareness), that increases in "education funding" mostly go to administrators and politician who would "dip" into the "'locked' box", without improving the level of education.Bob * I haven't looked at his proposal in detail, beyond your introduction to it, but will - Thanks for the headsup!!
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