Illinois U.S. Senator Dick Durbin defended Democratic governor Pat Quinn’s call for a 66 percent increase in taxes earlier this year, saying it was necessary in order to close the state’s budget gap.
“The legislature and governor faced an impossible situation, he said. “If they didn’t find a way to come up with revenue, to pay the vendors of the state of Illinois, then businesses and hospitals and doctors all across the state would be carrying the state debt, which they’re doing.”
The Illinois Democrat said he remains concerned that a number of businesses have threatened to leave Illinois in the wake of the tax increase. A number of state governors, including New Jersey governor Chris Christie, have courted businesses within the state, citing the recent tax hike.
Mr. Durbin says the income and corporate income tax increases are temporary, and he suggests lowering corporate taxes as much as possible afterward to make Illinois more business friendly.
The Illinois Assembly voted in favor of a personal income-tax increases of 66 percent and corporate income-tax in creases of 45 percent, designed to address a $15 billion state budget deficit that lawmakers said was leading the state into insolvency.
