As examples of the type of progressive tax plan he would like to see in Illinois, J.B. Pritzker pointed to other Midwestern states. But imposing those income tax rates would raise taxes on the median Illinois family.
One rating agency cited Illinois’ “persistent crisis-like budget environment” as explanation for the state’s near-junk credit. A spending cap constitutional amendment and pension reform could go a long way toward putting the state on a healthier fiscal path.
Residents can recoup some costs after hitting one of the Windy City’s infamous potholes.
The proposed $100.8 million budget will spend millions on police and fire pensions as well as a 3 percent pay raise for city workers.
Despite living in one of the most overtaxed counties in the country, the Des Plaines City Council approved an $11,255 salary increase for its city manager, raising the cost of government even more for taxpayers.
Lawmakers can’t balance the budget if they don’t know how much they have to spend.
Protecting taxpayers by ensuring they’re getting a state government they can afford? That’s friendly.
Instead of pushing for further tax hikes on tapped-out taxpayers, lawmakers should rally behind a bipartisan effort to limit state spending.
One progressive tax proposal filed in the Illinois House of Representatives would hike income taxes on Illinoisans earning as little as $17,300 a year.
Though some politicians claim a progressive income tax would only affect the rich, rates established under House Bill 3522 would raise income taxes on middle-class families.
Park district documents reveal multiple employees making six-figure salaries.
In 2017 alone, Lake County billed homeowners $1.8 billion in property taxes. Owners of a median-valued home in Lake Forest received a $13,600 property tax bill.
States with a progressive income tax see greater income inequality, and have seen income inequality rise faster than states without a progressive income tax.
Local voters struck down a 1 percent sales tax hike for the third time in seven years.