Illinois revenues skyrocket

Believe it or not, 

Analysis of Illinois revenues for the first eight months of fiscal year
2010 shows an increase of $15.3 billion from the same period in FY2009.
Comparing the same eight months against a healthier FY2008, revenues are
still up $5.3 billion, or 13%.

Read it in on the National Taxpayers United of Illinois website.

Comments

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  • I read that, and it seems to be saying that a lot of the money is from the feds for ARRA, and that is supposed to be spent, apparently mostly for asphalt, and maybe for some teachers and police officers. The real question is howse the sales and income taxes doing (as Kass would put it).

    All I know is that after I figured out my 2009 taxes, I had a refund coming, which means (1) all of the estimated tax installments for 2010 will be down, and (2) since the "refund" is being applied to the first installment [because I don't believe that Illinois can write a refund check that won't bounce], the first installment definitely will be. I also have a good capital loss carryforward for 2010. That is, of course, unless Quinn gets his way in putting "people" ahead of "politics."

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