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Quinn Offers Cities Revenue To Draw Tax Support

Mon, 28 Apr 2014 17:25:26 CDT
By: AP

Gov. Pat Quinn says he favors giving Illinois cities a larger share of income tax revenues to help solve the municipal pension problem, an idea the Chicago Democrat previewed as part of his pitch to extend the temporary income tax increase. The tax rolls back in January leaving an estimated $1.6 billion revenue hole and Quinn's budget plan proposes an extension to avoid budget cuts. Municipalities statewide have pushed for legislative help for underfunded pensions. Mayors say costs have risen and pension obligations are crowding out spending for other services and raising property taxes may be the answer. Quinn told members of the City Club of Chicago he doesn't want municipalities to raise property taxes. But he wouldn't say if he'll veto a plan to address two of Chicago's pension systems that could lead to a property tax increase.

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