Senator Meeks gives it another shot.

Chicago State Senator James Meeks has been the leader in Springfield at making sense when it comes to funding schools. In stark contrast to Governor Blago’s gaming schemes, the senator keeps trying to get an income tax increase through the legislature.

The Proposal:
SB 2288 increases the personal income tax rate from 3 percent to 5 percent and the corporate income tax rate from 4.8 percent to 8 percent. Revenues generated from these increases would be distributed to funding for elementary and secondary education and higher education, property tax relief, and statewide capitol projects. The bill increases the per pupil foundation level in the state school aid formula by $1,240, and over a four-year phase-in, reaches a total foundation level of $6,974. It also increases the special education personnel reimbursement amount to more than $19,000 by the 2012-2013 school year.

The following senators are sponsors of this bill: Meeks, Cullerton, Jones, Lightford, Collins, Crotty, Clayborne, Hendon, Hunter, Frerichs, Martinez, Delgado, Viverito, Noland, Steans, Demuzio, Trotter, Koehler and Raoul.