Schools Seek A 1% Income Tax Hike
Chicago Public Schools officials are floating plans for a one-point increase in the state's 3 percent flat-rate personal income tax, and a slightly higher increase for the corporate income tax.
The hike would generate an estimated $4.1 billion in new money for schools and statewide infrastructure projects. About half of the money would help school districts cover ever increasing operating costs--CPS would likely get about a 20 percent of this portion of the money--and the other half would go toward new school construction and other infrastructure projects like roads and mass transit.





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Catalyst Chicago | November 21, 2008 04:21 PM