The participants in the Kingdom Congress welcome you and invite you to discover the ministry of the Kingdom Congress. This site provides interested parties important news from the state and even from particular regions within the state. Keep abreast of future meetings hosted by the Kingdom Congress or keep watch for the decrees and papers that shall be written during sessions of the Kingdom Congress of Illinois.
Biblical View on Issues
"Illinois: Lawless State and Junk Credit Rating" by Dr. Patti Amsden
Illinois narrowly avoided becoming the first U.S. state ever slapped with a "junk" credit rating from S&P Global Ratings after it passed its first budget in more than two years. The firm removed the threat of the downgrade because the state passed its first budget in more than two years. Now, the fifth most populous state in the country is rated just above the junk ranking because the budget lowered the risk of liquidity status.
Illinois lawmakers agreed to raise income taxes by 32% and to start paying down an incredible $15 billion in unpaid bills. Governor Bruce Rauner vetoed the budget but both houses of the legislature voted to override his veto. The budget calls for $36.6 billion of estimated spending for the fiscal year of 2018 and $36.3 billion in revenue. The S&P considers the deficit of $289 million to be modest. To increase the revenue, the state has established a permanent tax increase on individual rates rising from 3.75 % to 4.95 % and corporate tax rates increasing from 5.25% to 7%.
More government, bigger taxes, civil jurisdictional overreach, and other such practices will not provide any future answers for the state’s many woes.
To read the entire article, click here
Illinois Cultural News
"Creative Ideas for Tax Relief"
by Joyce Geiler
The average property tax bill paid in Illinois jumped by nearly 50 percent between 2008-2015. Passed in 1991, the Property Tax Extension Limitation Law (PTELL) established a tax cap limiting the rate at which certain taxing districts can increase property tax in Cook County and the surrounding counties. Since 1996, voters in other Illinois counties have voted to implement PTELL. For counties subject to PTELL, annual property tax growth may not exceed 5 percent or the rate of inflation, whichever is less. There are exceptions to this, such as taxes for payments on bonds approved by voters, as well as tax increases approved through voter referendum. Since its passage, PTELL has extended to 39 counties.
But as residents in these counties have discovered, even the limitations imposed by PTELL on tax increases have failed to prevent property tax bills from soaring beyond the affordability of taxpayers. In fact, many households have seen property tax bills rise in spite of declining property values. To read the entire article, click here:
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