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Video instructions and help with filling out and completing Illinois schedule m line 39
John after sifting through the bill and crunching some numbers with the business department at the University of Illinois and Springfield an average household pays about two hundred and fifty dollars per month in income tax alone with this proposed tax hike that means again an average household would pay an additional seventy dollars per month or about one thousand dollars more per year I was not elected caught in the middle of partisan budget woes the taxpaying citizens of Illinois already paying some of the highest property and sales tax the proposed income tax hike could mean families are choosing between the necessities just going to hurt people it's going to really hurt people especially like I say that the fixed income people that don't have that much you know so it's a choice between medicine food okay trust me or gas what choice you make but on the brink of being the first state in history to receive a junk bond status and a bill backlog of over fourteen billion dollars Ron McNeal Dean of the College of Business at UIs says the state is like a patient in triage and this bill could be a step in the right direction it doesn't mean the patient as well it is the state of Illinois it means there are still unlike support extra taxes extras is still not bottom of the states and credit ratings but at least at the beginning on the other hand Illinois we have lost more residents than any other state for three years in a row according to the US Census adding on taxes to both residents and businesses could mean this revenue bill might not even serve its purpose if my kids want to move on let's go Missouri sounds real good Fred awful businesses start to leave that's a big deal because what happens your tax base for businesses and people goes down still other residents say a balanced budget is long overdue and a tax increase is inevitable we needed to raise some revenue so that the state can start digging itself out of the hole that it's in now keep in mind higher state taxes does mean a larger federal deduction but still we wanted to hear from you we conducted a Twitter survey on Twitter rather asking can you or your family afford higher taxes if it means Illinois can finally pass a balanced budget right now 40 percent say yes 60 percent say no be sure to weigh in on our newsChannel 20 Twitter account for now reporting live at the Capitol I'm Jacqueline Driscoll newsChannel 26.