Schimpf: Income taxes likely going up, confident about SIU fundi - WSIL-TV 3 Southern Illinois

Schimpf: Income taxes likely going up, confident about SIU funding

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WSIL -- As Illinois lawmakers work to reach a budget agreement, State Sen. Paul Schimpf (R- Murphysboro) said the state income tax will likely be increased, as part of the final agreement.

Right now, it's 3.75 percent, but Schimpf said it could go as high as 4.99 percent.

"It looks like that is something part of whatever deal is reached. I know that there is some disagreement, but there seems to be some consensus that there has to be some type of new revenue included in this deal," said Schimpf.

But Schimpf said any plan to raise taxes must be paired with spending cuts.

"We need to have perhaps a 10 percent haircut type approach everywhere we can make some cuts," said Schimpf.

He said he would also like to see some consolidations of state offices.

Schimpf said he would like to see the lieutenant governor's office abolished and the comptroller and treasurers office consolidated.

The senator did not give specifics, but told reporters SIU will get some money by the end of the legislative session on May 31st.

"I'm confident that by the end of May we are going to be get funding out the door," said Schimpf. "I have gotten assurances that we are going to one way or another to get some money out the door to higher education."

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