- Associated Press - Wednesday, March 26, 2014

SPRINGFIELD, Ill. (AP) - Gov. Pat Quinn says he wants to give homeowners relief by offering a tax refund for those who pay property taxes.

The Chicago Democrat gave his budget address to lawmakers on Wednesday. He’s expected to call for making the income tax increase permanent. The income tax is set to rollback in January, leaving a roughly $1.6 billion revenue drop.

Quinn says that each homeowner will get a $500 property tax refund each year.

The budget speech comes as the state has massive financial problems, including billions in unpaid bills, a low credit rating and uncertainty with its pension debt.

It’s also the start of what’s expected to be a tough re-election bid for Quinn. He faces a challenge from Republican businessman Bruce Rauer (ROW’-nur).

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