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Poshard: Tax Hike Extension Necessary

SIU's President says if Illinois' income tax increase is allowed to expire, it will be devastating to higher education.

In an interview for WSIU's Morning Conversations program, President Glenn Poshard says without the additional money the temporary tax hike has brought in, schools could see a 12%-20% reduction in funding.

Poshard says universities are economic engines for their regions - and that kind of cut would be catastrophic:
 
"The effect on the economy in the region would be: hiring less people, spending less money in the local economy on goods and services, those kinds of things."
 
SIU's funding level has dropped more than $40 million over the last 12 years, and Poshard says it's nearly impossible to maintain employment levels with the loss of money.

Poshard goes on to say lawmakers have nearly no other choice but to extend the tax hike, because of the state's terrible budget situation:

"The hole was dug so deep to begin with that even this temporary tax increase has not enabled the state to pay its bills on time or dig out of the hole. And so if it isn't extended, I don't know what they do except incur more bills and more borrowing."

Lawmakers will continue crafting a budget over the next several months, and Poshard says while tuition and fee increases are on April's Board of Trustees agenda, the vote may have to be delayed in order to better gauge how much money will be available from the state.
 

Jennifer Fuller joined Capitol News Illinois in July 2023 as the organization’s broadcast director. She will oversee the launch and operations of CNI’s new broadcast division.

Contact Jennifer Fuller at jfuller@capitolnewsillinois.com
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