Month: January 2011

Schilling praises and challenges Obama speech

Posted by dwilson – January 26, 2011

U.S. Rep. Bobby Schilling, R-Colona, welcomed President Barack Obama’s offer to work on reforming health care and creating jobs during Tuesday’s State of the Union address.

Schilling, however, said during a YouTube video that the health care overhaul passed last year is creating a big problem for U.S. businesses.

In a press release after the speech, Schilling agreed with Obama’s call for civility. He also welcomed parts of the president’s agenda.

“President Obama said some of the right things tonight, but it will be my job to make sure he makes good on his promises,” Schilling said.

Illinois Supreme Court supports Emanuel’s motion

Posted by dwilson – January 25, 2011

Just a few minutes before noon today, the Illinois Supreme Court filed an order that requires any Chicago ballots that are printed to include the name of mayoral candidate Rahm Emanuel.

An appeals panel ruled 2-1 against Emanuel on Monday, saying he did not establish his residency in Chicago during the past year. At issue in that case was different wording between the rules that protect government workers as voters — regardless of place of permanent residence — and rules that protect political candidates.

By stepping in to grant at least part of Emanuel’s emergency motion, the state Supreme Court keeps Emanuel’s hopes alive in the race for mayor.

The mayoral contest was sparked by word that the incumbent, Mayor Richard M. Daley, will not seek re-election. He was first elected in 1989 and his term will end May 16.

Emanuel is the former chief of staff for President Barack Obama and that’s where his residency problems started.

As noted previously, Emanuel is leading in several polls and has a large campaign fund, as well as high-profile backing such as that of former President Bill Clinton.

Court rules Emanuel to be excluded from ballot

Posted by dwilson – January 25, 2011

Two members of a three-judge appeals panel ruled Monday that Rahm Emanuel has not met the residency requirements and may not be on ballots in the Chicago mayoral election.

Emanuel, a former congressman and chief of staff for President Barack Obama, hopes the Illinois Supreme Court will overrule the appeals court decision — if the high court chooses to make a ruling.

The appeals panel was not unanimous. The 2-1 decision had Shelvin Louise Marie Hall and Thomas E. Hoffman ruling that Emanuel did not have residency under Illinois law. Justice Bertha E. Lampkin dissented, saying state law that allows politicians and appointees to retain residency is clearly in Emanuel’s favor.

The Chicago mayor’s race will be decided Feb. 22, so the ruling’s timing is problematic for Emanuel, who is leading in several polls and has a mountain of campaign cash at his disposal.

Some say income tax hikes not end of world

Posted by dwilson – January 19, 2011

When Illinois legislators approved income tax hikes that take the personal income tax to 5 percent from 3 percent and hiked the corporate income tax to 7 percent from 4.8 percent, lots of Illinois taxpayers and business leaders said higher taxes would drive people out of the state.

Not everyone was convinced. A map of tax rates in surrounding states shows that Illinois has a lower personal income tax rate than all except one surrounding state. Corporate income taxes will be lower in Illinois than in all but two surrounding states.

Illinois business leaders say they pay a 2.5 percent personal property replacement tax as well. By their reasoning, the combined tax on corporations is 9.5 percent.

In either case, the efforts by Wisconsin’s governor to draw away Illinois residents or businesses might be a hard sell since Wisconsin has a higher individual income tax rate and a higher corporate income tax rate before the PPRT is imposed.

Government gives and takes away

Posted by dwilson – January 14, 2011

Illinois workers who expected to see a little larger paycheck this year will be disappointed.

Congress passed legislation that cuts the employee portion of Social Security collections by 2 percent this year. That could have been an extra $10 for someone whose gross pay is about $500 a week.

The Illinois Legislature, more accurately a majority of Democrats and none of the Republicans in the lame-duck Legislature, hiked the Illinois individual income tax level by — 2 percent.

The federal government giveth and the state government taketh away.

It could be worse. This could be January 2012, when the Social Security collections go back up by 2 percent, on top of the higher Illinois income tax.

Schilling talks debt control with Cavuto, FOX

Posted by dwilson – January 6, 2011


U.S. Rep. Bobby Schilling told FOX Business Network’s Neil Cavuto Wednesday that “it’s time to start doing some cuts before we look at raising the debt ceiling at all.”

Schilling, who took his oath of office only hours before the interview, said that raising the federal debt ceiling without fixing the problem is a mistake.

“It’s no different than at home with our credit cards, when we max out that cart and we don’t have the funds to pay the debt back … we have gone here before and it doesn’t work,” Schilling said.

“My fear now is, we are at $14 trillion. We are going to just continue to raise the debt ceiling, our kids and grandkids are going to have to pay that money back at some point.”

Change in tax day a little glimmer of light

Posted by dwilson – January 5, 2011

Taxpayers who were gripping their wallets on the day when newly-elected members of Congress took their oaths of office got good news. Tax day will be delayed until April 18.

The Internal Revenue Service announced that taxpayers will be able to file income tax returns until Monday, April 18. The IRS made the change because Emancipation Day, which is celebrated in the District of Columbia, will fall on Friday, April 15 — the traditional tax day.

In 2012, the holiday schedule will move tax day to April 16.

For those 140 million tax filers, the IRS will launch a new “Where’s my Refund” tool at the web site.

Procrastinators, and those who want to keep their money just a few hours longer, will be gratified by those changes.