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CHICAGO (CBS) ― In less than 48 hours Illinois taxpayers will find out just how Gov. Pat Quinn plans to deal with the state budget deficit.

As CBS 2 Political Editor Mike Flannery reports, Quinn wants to raise the state income tax on middle- and upper-income earners. But is that a good move, or a bad one?

"It's gonna be bad news. The primary feature of this governor's budget appears to be a tax hike," said John Tillman of the Illinois Policy Institute.

But Ralph Martire of the Center for Tax and Budget Accountability says, "Absolutely not. The tax increase, if done right, will actually grow our economy."

Gov. Quinn and his allies claim their tax proposal would help save or create tens of thousands new jobs. And they complain that the alternative -- cutting state spending by billions of dollars – could trigger 50,000 or more new layoffs.

With the April 15 deadline less than a month away, some of Illinois's 5.5 million taxpayers were pulling IL-1040s from a rack at the Thompson Center Monday. Many were only vaguely aware of the debate raging in think tanks like the Illinois Policy Institute over Quinn's plan to raise the state income tax by 50 percent.

"Where you raise taxes, which is what they want to do, job growth goes down, economic activity goes down," Tillman said.

"We need quality schools. We need health care. We need to take care of vulnerable populations. We need infrastructure. We should pay for them with current revenue," Martire argued. "And at least Gov. Quinn is doing that."

Martire contends that the pro-tax increase analysis of his Center for Tax and Budget Accountability is endorsed by Democrats and even some Republicans.

"Anyone that wants to check us, go the...and you can look at it," Martire said.

But Tillman countered, "Mr. Martire and Gov. Quinnn are advocating policies that have been tried in California. And people are leaving in droves from California, because policies don't work."

With so many of your dollars at stake, we want to make it easy for you to take a closer look at this debate.

Pro-Tax Increase Sites: 
Center for Tax and Budget Accountability 
Gov. Pat Quinn

Anti-Tax Increase Sites: 
Illinois Policy Institute
Illinois House Republican Organization

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