A massive increase in state income taxes, forced through a lame-duck Senate by Governor Pat Quinn and Democrat legislative leaders just hours before the end of the two-year legislative session, did not have the support of any Republican Senators, according to Senator Bill Brady.
Senate Bill 2505 hikes the state’s personal income tax rate from 3 percent to 5 percent – an increase of 67 percent. It also increases the state’s corporate income tax rate from 4.8 percent to 7 percent – an increase of 46 percent.
The bill was approved by a 30-29 vote in the Senate in the early morning hours of January 12. Senator Brady and all other Senate Republicans voted “no.”