If Illinois lawmakers don’t pass legislation that would keep the current income tax rate at 5 percent, Illinois schools will lose $1 billion in funding.
Click here to see how your school would be affected.
Locally, school districts would both be significantly impacted.
The Rock Island School district would would lose nearly $3.4 million dollars, while Moline would lose more than $2.5 million. To make up that deficit, Rock Island would have to increase their property taxes by 12 percent, and Moline by 6 percent.
“Two and a half million dollars, that’s about 50 teachers,” said Moline School District’s Superintendent Dr. David Moyer.
If the income tax rate does drop, Moline Schools will have to make drastic cuts, and possibly dip into their reserve fund to pay their teachers for the 2014-2015 school year.
“We have already locked our staff in for next year,” Moyer said.
Beyond that, Moyer said cuts would be made.
“When you have to make drastic cuts, typically you have to let staff go. In the past four years, the Moline School District has cut 40 staff positions and reduced their budget by more than $13 million dollars,” Moyer said.
Illinois legislators have until the May 31 adjournment to come to an agreement, attempt a new resolution, or wait until after the November 4 election.