GeorgeBorkFan
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RE: NIU and other state schools downgraded to junk bond status
(07-07-2017 10:42 AM)Max Power Wrote: The tax cut Rauner instituted in 2015 was irresponsible and at fault for the debt explosion -- tripling from $5 billion to $15 billion -- we have seen since then. Republicans like to crow about debt, fiscal responsibility and balancing budgets but they never let that get in the way of a good tax cut.
Factually false, 100%. Rauner "instituted" no such tax cut. His office holds no such power. In this case, the original tax increase was set to partially, not completely, roll back, as prescribed in the original statute. The Democratic legislature declined to send a bill to either Pat Quinn's desk or Rauner's desk, to keep the temporary tax rates in place. Therefore, they expired.
The explosion in debt was due to a lack of control on spending during a time when the Democratically controlled legislature failed to send a budget to the governor's desk.
And, since nothing was done about spending, taxes have been increased and nothing has been done about the structural issue of pension liability.
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07-07-2017 01:24 PM |
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