Compromise Revenue Plan Faces Last-Minute Change
Gov. Otto Kerner prompted a revised form of a proposed revenue amendment drafted by a legislative commission. The plan would allow a state income tax up to 3 percent with a separate referendum, retain Cook County real estate classification, and grant broad legislative power over personal property tax. Kerner urged separating the income tax from other provisions, a stance echoed by Sen. Arrington. critics warned the move could delay passage while commissioners pressed for a unified reform.
MENTIONED IN THIS ARTICLE
Ralph H. Johnson
Lindsay-Schaub
Springfield
Legislative Commission
Otto Kerner
Cook County
Kerner
Commission
Terrel Clarke
Western Springs
James P. Loukas
Chicago
Russell Arrington
Senate
Arrington
Paul Elward
Clarke
Branch Bank Bill Defeated in Illinois House
The bi annual measure to legalize countywide branch banking failed 118 to 47 in the Illinois House on Thursday. Backers argued it would spur growth and improve service, while amendments restricted branches and required voter approval.
MENTIONED IN THIS ARTICLE
Lindsay-Schaub
Springfield
Chicago
Richard Daley
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