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Tax indexing plan clears Senate committee in Illinois
The 1981 measure by Sen. Donald Totten, a Hoffman Estates Republican, cleared the Senate Revenue Committee on a 7-1 vote. The plan would raise the standard exemption by inflation each year, using the Consumer Price Index, trimming income tax for filers but potentially reducing state revenues by up to $40 million in the coming year and $80 million the next. Dawn Clark Netsch opposed the bill.
MENTIONED IN THIS ARTICLE
Springfield
Donald Totten
Totten
Hoffman Estates
Senate Revenue Committee
Senate
Dawn Clark Netsch
Chicago
Fall
House
James B. Thompson
Kenneth McMillan
Bushnell
Thompson
State Revenue Department
Republican
Budget Office
Dale Smith
The