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Now that Illinois Governor Blagojevich is free on bail, the Tax Policy Blog looks back on his biggest tax policy effort, a gross receipts tax that narrowly failed to pass the Illinois house, losing on a 0-107 vote:
Much like Blagojevich's own career, the gross receipts tax went down in flames, killed by his fellow Democrats in the state legislature. But Blago limped on for another year, shaded by an ethical cloud and boasting a remarkable 4% approval rating. Perhaps once he goes to prison (if he is convicted of the alleged crimes which he allegedly committed) Blago can carry on his populist shtick there, advocating for meatier bologna sandwiches or increased rec time.
Fortunately, Illinois has plenty of politicians with similar ethical standards ready to step in.
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The items included in the Tax Update Blog are informational only and are not meant as tax advice. Consult with your tax advisor to determine how any item applies to your situation.
Joe Kristan writes the Tax Update items, and any opinions expressed or implied are not necessarily shared by anyone else at Roth & Company, P.C. Address questions or comments on Tax Updates to