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September 20, 2014, 8:59 am
970 WMAY News

Topinka: Tax Hike Expiration Could Cause Budget ''Collapse''


A top Illinois Republican is warning of serious problems ahead if the state’s temporary income tax increase is allowed to lapse at the end of this year. 

 

Comptroller Judy Baar Topinka says rolling the tax rate back will cause a… quote… “$2 billion collapse” in the state budget, and says the impact would be the equivalent of a “heart attack” on state finances. 

 

Topinka suggests the rate could be scaled back more gradually… to give lawmakers more time to cut spending.

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