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Illinois Bill Seeks Huge Increase in Casino Tax5 March 2001SPRINGFIELD, Illinois – March 5, 2001 – As reported by the Chicago Sun-Times: "At a time when the state's budget is being squeezed by a slowing economy, a DuPage County legislator believes he has a painless way to pump more than $800 million into the treasury without asking for a dime more from voters. "Rep. Thomas L. Johnson (R-West Chicago) has introduced legislation that would allow the state to more than double the tax on the state's highly profitable nine casinos--a move the industry said could threaten its very existence. "Under Johnson's plan, the state treasury would get 80 percent of gambling revenues, leaving the casinos what's left. Currently, the state bases its riverboat tax on a sliding scale, collecting up to 35 percent of revenues from the wealthiest casinos. "…At his request, the revenue-forecasting arm of the General Assembly found that his idea would add $836 million more in revenues next year on top of the $531 million that would come from the casinos through existing taxes. "…His bill, however, most likely is going nowhere because of opposition from the casino industry, one of the state's dominant special interests and a prolific campaign donor. "…Rep. Daniel Burke, the committee chairman, said his opposition to Johnson's plan has nothing to do with contributions. Rather, he fears that if approved, it would wind up in court and emasculate an industry that is a reliable source for millions of dollars for the state." |