Illinois House Speaker Michael Madigan, D-22nd Dist., said a recent proposal to increase the cigarette tax by $1 could help Illinois provide more financial aid to needy students.
Illinois House Speaker Michael Madigan, D-22nd Dist., said a recent proposal to increase the cigarette tax by $1 could help Illinois provide more financial aid to needy students. The “tax would bring in a federal match of 62 percent,” Madigan added. According to the Alcohol and Tobacco Tax and Trade Bureau, the current cigarette tax in Illinois totals $4.67– $1.01 for federal, 98 cents for Illinois, $2 for Cook County, and 68 cents for Chicago. Illinois, faced with billions in debt, reduced the annual budget this fiscal year for the Monetary Assistance Program grant to $198 million from $380 million. The reduction means the Illinois Student Assistance Commission, which oversees and administers state financial aid, had to stop processing financial aid applications in May, three months sooner than it did last fiscal year. The reduction in state aid also means eligible students would receive financial aid for the fall semester but come January, when the spring semester typically begins, there would be no state aid available. State Rep. LaShawn Ford, D-8th Dist, is the chief sponsor of HB0454 that would increase the cigarette tax and take effect immediately if passed. ______ Copyright 2009 Chicago Defender. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
About Post Author
