Retirement tax could be next if ‘fair tax’ passes, Moody’s says

By Adam Schuster

10/22/2020

The credit rating agency also said Illinois will soon pass the point of no return on public pension debt. It warned against schemes to stretch or delay pension payments.

TAGS: credit rating, fair tax, pensions, retirement tax

Lightfoot budget includes automatic property tax hikes, gas tax hike

By Adam Schuster

10/22/2020

A typical Chicago homeowner faces up to $255 in potential property tax increases to cover city and school deficits. City income taxes could be next, if the ‘fair tax’ were to pass.

TAGS: budget, Chicago, Lori Lightfoot, property taxes

Three members of ‘Team Pritzker’ have backed retirement tax

By Ben Szalinski

10/20/2020

Multiple members of the governor’s inner circle have publicly backed retirement taxes, even though Pritzker now denies he will use his “fair tax” on the state’s seniors.

TAGS: fair tax, JB Pritzker, retirement tax

Illinois taxpayers charged $1.8M for misleading ‘fair tax’ amendment pamphlet

By Brad Weisenstein

10/16/2020

The blue pamphlets sent to Illinois voters were mandated by law, but the constitutional amendment explanation inside included misleading language in its favor.

TAGS: ballot referendums, election, fair tax, JB Pritzker

Illinois ballots don’t give voters plain language behind ‘fair tax’ amendment

By Ben Szalinski

10/15/2020

The amendment’s ballot language misleads voters about what a graduated income tax would do if passed Nov. 3 in Illinois.

TAGS: ballot, election, fair tax, JB Pritzker

Pritzker ‘fair tax’ group pays over $10,000 to push fake tweet

By Ben Szalinski

10/14/2020

Vote Yes for Fairness misled Illinois voters by running ads based on a fake Twitter account. Gov. J.B. Pritzker almost single-handedly is funding the group.

TAGS: fair tax, JB Pritzker, Twitter

If ‘fair tax’ passes, expect more seniors to leave Illinois looking to avoid retirement tax

By Adam Schuster, Bryce Hill

10/09/2020

Illinois would have lost an additional 10,577 seniors from 2012 to 2018 if outmigration were as severe as in Connecticut, the last state to enact a progressive income tax.

TAGS: fair tax, JB Pritzker, retirement tax

S&P: Illinois faces junk rating, large budget deficit even with progressive tax revenue

By Adam Schuster

10/08/2020

A credit rating agency found Gov. J.B. Pritzker’s ‘fair tax’ would fail to close the state’s deficit or adequately fund essential services.

TAGS: credit rating, deficit, fair tax, Standard & Poor's

Progressive income tax would create 50.3% income tax rate for small businesses

By Bryce Hill

10/08/2020

Combined state and federal income taxes would have small businesses pay more than 50% of their top-end income in taxes.

TAGS: fair tax, JB Pritzker, small business

Pritzker revenue director sponsored bill to tax retirement income

By Ben Szalinski

10/07/2020

Taxing retirement income is not a new idea to Illinois politicians, but denying they want to tax seniors is new since that part of the “fair tax” plan slipped out.

TAGS: fair tax, JB Pritzker, retirement tax