Costello stands with Illinois taxpayers, against progressive income tax
A progressive income tax structure in Illinois would mean tax hikes on the middle class. State Rep. Jerry Costello, D-Smithton, has joined the fight against a progressive tax hike in Illinois.
Lawmakers are making a bipartisan effort to protect Illinoisans from a state tax hike disguised as a graduated, or “progressive,” income tax.
State Rep. Jerry Costello II, D-Smithton, signed on as chief co-sponsor to House Resolution 31 on Feb. 19. The resolution was filed in January by state Rep. David McSweeney, R-Barrington Hills, and states that Illinois should not scrap its constitutionally protected flat income tax.
While sold as a tax on the rich, the state’s reckless spending habits would all but guarantee a progressive income tax leads to tax hikes on the middle class.
For the second year in a row, Costello has risen as the first Democrat to sign on to a resolution opposing the progressive income tax.
A progressive income tax proposal introduced in 2018 would have hiked taxes on the vast majority of Illinois taxpayers, starting with those earning as little as $17,300. Taxpayers who would have had to pay more under a progressive tax structure already saw their income taxes increase in 2011, then again in 2017 for the largest income tax hike in state history.
States with progressive income taxes see slower economic growth and faster growth in income inequality. Most economists agree that more progressivity in income tax structures in fact reduces economic growth.
Illinoisans understand further tax hikes will only continue to weaken the state’s laggard economy. In 2018, when lawmakers last floated a progressive income tax, nearly 25,000 Illinoisans signed a petition opposing a progressive tax via illinoispolicy.org.
Lawmakers in Springfield should follow Costello’s lead, take Illinoisans’ objections to a progressive income tax to heart and champion solutions that reform state spending.