State didn't check its reckless spending

The Illinois legislature has overturned the governor's veto, thereby implementing a budget unseen by the state in over two years.

In order to pay its spiraling liabilities, and avoid junk bond status, the legislature has seen fit to raise both the income tax and the corporate tax rate. While this might be enough to currently correct the legislature's irresponsible spending, it opens up the likelihood of continued fiscal irresponsibility by the state, all while placing the burden squarely on the shoulders of taxpayers.

The total debt for the state of Illinois is over $150 billion. The state of Illinois owes its creditors over $20 billion this year alone. In order to remedy this situation, legislators insist on increasing taxes, not cutting their irresponsible spending. First, individual income taxes will increase 32 percent, from 3.75 percent to 4.95 percent. Secondly, the corporate tax rate will see an increase of 33 percent, from 5.25 percent to 7 percent. This corporate tax, coupled with the Sugar-Sweetened Beverage Tax Act, placing a tax of $. 01 per ounce on "bottled sugar-sweetened beverages," will affect the taxes businesses pay, not necessarily the businesses' revenue.

Through the legislators' reckless fiscal policies, Illinois taxpayers are being further burdened by the weight of taxes. Individuals are responsible for consuming only what they earn; the Illinois legislature should be held to the same standard. Instead of raising taxes and undermining the hard-work and responsibility of Illinois' taxpayers, the legislature should be required to pass balanced budgets, spend only within their means, and in times of crisis, cut spending rather than raise revenue. By raising revenue, the legislature is all but guaranteeing the continued rise of state spending.

Christopher Hill

Willowbrook