by Mish

Rauner proposed a temporary tax hike and called a special session to work out a bipartisan plan.

Instead, the Illinois legislature passed a massive and permanent tax hike. The Senate Has already overridden Rauner’s veto and 15 House Republicans are expected to go along.

Politico reports Rauner Vetoes Budget in Illinois Showdown [but Republican fools will override the vote].

Attempting to avoid becoming the first state ever to see its bond rating downgraded to “junk” status, the Illinois legislature on Tuesday sent Republican Gov. Bruce Rauner a $36 billion spending plan in a dramatic showdown that culminated in an extraordinary Fourth of July vote.

Rauner, who called the legislature into a special session to pass a budget, quickly vetoed the measure, citing its permanent income tax increase; the governor, who is attempting to salvage his precarious 2018 reelection prospects, has sought a temporary tax hike and a property tax freeze.

Legislators – including 15 Republicans in the House who broke from the governor – say they want to end a crisis that turned Illinois into a national disgrace, drew the intervention of a federal judge, sent university enrollments plummeting, threatened to close K-12 schools in the fall and resulted in a staggering eight bond rating downgrades.

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“Illinois families don’t deserve to have more of their hard-earned money taken from them when the legislature has done little to restore confidence in government or grow jobs,” Rauner said in a Facebook address.
Rauner had vowed to “shake up Illinois” but now must run for reelection without having advanced his legislative agenda and unable to stop a 32 percent income tax increase – a tax hike for which many in his own party had voted.

Several Republican House members broke into tears as they voted in favor of a tax increase they said they opposed on principle but said they couldn’t continue to watch the state burn to the ground. That included lawmakers who represented areas with universities that have been ravaged by the impasse.

Rauner vetoed the bill.

Well la-dee-friggin-da. Rauner should never have called a special session unless he got guarantees from House Speaker Mike Madigan in advance.

And who are these alleged Republicans who will vote to override the veto in return for nothing?

They just sold the state down the river.

Illinois will be back in trouble in less than two years, if not immediately.

Mike “Mish” Shedlock

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