A massive tax increase squeaked through the Illinois legislature as Democrats played...

|By:, SA News Editor

A massive tax increase squeaked through the Illinois legislature as Democrats played beat-the-clock to get the measure passed before a new session begins today. The bill would raise about $6.8B a year for the state's beleaguered budget by raising the individual income tax rate to 5% from 3% and the corporate tax rate to 7% from 4.8%.