The Illinois Senate passed another day in Springfield without a vote on its much-anticipated budget compromise.
Democrats and Republicans discussed the plan separately in private meetings lasting hours yesterday. But there were no votes on the plan.
This morning there is word that a new plan is being considered that would lower the state’s overall sales tax rate, but raise the tax on food and medicine. Under the proposal, the state’s sales tax rate would drop from 6.25 percent to 5.75 percent. But it would apply to food and medicine – items now taxed at just 1 percent.
That would generate more money for the state’s coffers … At a time when the bill backlog is nearing 15 billion dollars.
It would also allow lawmakers to drop the idea of a so-called “opportunity tax” that would tax each company doing business in the state based on the number of employees it has – that tax has been hit with lots of opposition from business groups.