{"id":348990,"date":"2010-02-22T09:48:17","date_gmt":"2010-02-22T14:48:17","guid":{"rendered":"http:\/\/chicagopressrelease.com\/press-releases\/civic-fed-urges-reform-tax-increases-to-avoid-financial-disaster"},"modified":"2010-02-22T09:48:17","modified_gmt":"2010-02-22T14:48:17","slug":"civic-fed-urges-reform-tax-increases-to-avoid-financial-disaster","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/348990","title":{"rendered":"Civic Fed urges reform, tax increases to avoid financial disaster"},"content":{"rendered":"

CHICAGO (WBBM) — A respected research group warns the state of Illinois is courting financial disaster if it keeps doing what it’s been doing. The Civic Federation recommends a package of reforms, including income tax increases.<\/p>\n

Federation president Laurence Msall says first and foremost, the state must reform its pension system and then roll back spending by around $2.5 billion.<\/p>\n

Then and only then, he says, does the group recommend tax hikes. “We are recommending an increase in the individual income tax from 3 to 5 percent and an increase in the corporate income tax which is currently 4.8 percent to 6.2 percent.”<\/p>\n

Msall acknowledges this is a tough sell in an election year. <\/span><\/p>\n

“There is nothing politically palatable about what the Civic Federation is urging but there is nothing politically palatable about not paying your schools…your universities and jeopardizing the future of the state of Illinois.”<\/p>\n

He says in essence, the state right now is bankrupt with the situation growing worse by the day.<\/p>\n

The full report is available at civicfed.org\/iifs\/illinoisrehab<\/a><\/p>\n

Regine Schlesinger reporting<\/strong><\/p>\n

Read the original article from WBBM News Radio<\/a>.<\/p>\n

Distributed via Chicago Press Release Services<\/a><\/p>\n

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CHICAGO (WBBM) — A respected research group warns the state of Illinois is courting financial disaster if it keeps doing what it’s been doing. The Civic Federation recommends a package of reforms, including income tax increases. Federation president Laurence Msall says first and foremost, the state must reform its pension system and then roll back […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-348990","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/348990","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=348990"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/348990\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=348990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=348990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=348990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}