Current state Sen. Michael Noland, an Elgin Democrat, supports legislation that would raise the income tax rate for individuals, trusts and estates from 3 to 5 percent and the corporate income tax rate from 4.8 percent to 5 percent. In return, Noland would seek to double the property tax credit to 10 percent. He says the plan would raise about $7 billion in new revenue over time and would reduce the state's "over-reliance on property taxes."
Republican opponent Steve Rauschenberger, also of Elgin, opposes an income tax increase, saying one is "not appropriate during the worst recession in modern history."
Instead, he said the state will realize more income tax receipts from supporting "job-friendly changes to (Illinois) policies and politics."
Despite the fact that countless Washington reporters couldn't help but watch Stephen Colbert's Capitol Hill testimony Friday, not all were enthralled by the Comedy Central star's performance, as they expressed on Twitter.
"REALLY not sure this is funny," wrote ABC News' Rick Klein.
"Colbert is making a mockery of this hearing," said Mother Jones' David Corn.
"Colbert's testimony made a mockery of Congress," said the Washington Post's Aaron Blake.
The Hill's Mike O'Brien said, "This might be the most amazing public stunt before Congress."
National Review's Kathryn Lopez wrote that "a congressional chairman made a joke of her committee today."