Senate panel approves plan to replace corporate property tax
The Senate Revenue Committee backed a Democratic plan to replace the corporate personal property tax with new taxes. The measure would raise corporate income tax to about 3 percent, generating around 533 million, with additional changes including estate tax and invested capital taxes on utilities. Debate centered on rate levels and potential revenue impacts, including an amendment to shield some international income sources.
MENTIONED IN THIS ARTICLE
Tom Wellman
Lindsay-Schaub
Springfield
Senate Revenue Committee
Howard Carroll
Chicago
Senate
Bruce
McPike
Kenneth McMillan
Bushnell
McMillan
Gov. Thompson
Egan
Samuel Maragos
Richard Walsh
Allan Brewer
Kraftco Corp
Illinois
Caterpillar Tractor of
Peoria
Stowe
Road fund bill showdown shifts gas tax flow in Illinois
Illinois politics swirl around Rep. Everett Steele’s plan to divert half of the gasoline sales tax about 92 million dollars from the general revenue to the road fund. Sen. David Regner advances a four year phase in, while Gov. James Thompson weighs the political risk of raiding funds to pay for concrete.
MENTIONED IN THIS ARTICLE
Richard H. Ieen Lindsay-Schaub
Springfield
Everett Steel
Glen Carbon
James Thompson
Steele
David Regner
R-Mount Prospect
House
Senate
General Revenue Fund
Regner
Donald Totten
Roffmann Estates
House Transportation Committee
George Ryan
Regner-Totten
Ryan
Illinois
Thompson
Alan Dixon
Dixon
U.S. Senate
Adlai Stevenson
Democrats, Is the Regional Transit Authority
RTA
Illinois to fly flags at half mast for John Wayne
Gov. James R. Thompson ordered all Illinois and United States flags on state buildings lowered to half mast in memory of John Wayne. He praised Wayne as a great American who entertained millions and loved his country, extending sympathy to Wayne's family on behalf of Illinois residents.
MENTIONED IN THIS ARTICLE
Springfield
James R. Thompson
Illinois
United States
John Wayne
Thompson
Wayne
Also Mentioned on This Page
Oks
Sen
Terry Bruce
D-Olney
James McPike
D-Alton
Carroll
Douglas Whitley
Taxpayers’ Federation of Illinois
William Stowe
Illinois State Chamber of Commerce
Robert Egan
Fred
Carterville
Holtmann Bros
Herrin Eagles
Oriental Foods
Mardale Shopping Center
Lee Kam Kee
Midwest
Main
Carbondale
Oldani
Illinois Cafe
Warner Bros
AMC
Meleve Games
Crazy
Peter
Falk
Alan
Arkin
Peter Falk
Alan Arkin
Arthur Hiller
In-Laws
John Morris
Andrew Bergman
William Sackheim
Wcil-Fm
Roy Scheider
Richard Dreyfuss
Gary Murray Hamilton
Azanuck
BROWN
Peter Benchley
Carl Cutie
Peter Benghley
Steven Spielberg
Richard Ozanuck
Qavd Brown
Linas
UA Iam
T&c Center
Marion
Aes A
MTT Ee
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