Only one state has switched its income tax structure from flat to progressive in the past 30 years. Its disastrous results may explain why.
The new governor has thus far refused to address the root causes of Illinois’ dismal finances.
A bill in the Illinois House would empower voters to reform the funding priorities of their local school districts.
Gov. J.B. Pritzker’s proposed progressive income tax won’t raise the revenue he claims, and will lead to future tax hikes on the middle class.
Not only would a progressive income tax hike end up taking more money directly from all taxpayers’ pockets, but it would also have negative economic effects on jobs growth, after-tax income adjusted for cost of living, and overall economic output.
The governor’s progressive income tax hike will not deliver on promised revenue and will drag down Illinois’ struggling economy.
Small businesses are the engine of Illinois’ economy. But those responsible for creating nearly two-thirds of Illinois’ jobs in 2017 would get hit under the progressive income tax plan just released by Gov. J.B. Pritzker.
Most business is mobile. Most of Illinois is close to another state. Add a progressive state income tax and watch businesses such as Piasa Motor Fuels cross the bridge to Missouri.
Every Illinoisan would need to see a tax hike to close the deficit and pay for Gov. J.B. Pritzker's promised new spending.
Shoppers across Illinois would pay a new state-level bag tax under Senate Bill 1240 and House Bill 3335. But Chicago shoppers, who already pay a city bag tax, would not.
Pritzker's proposed progressive income tax rates harm Illinois' economy, while hardly fulfilling his promises.
The last state to take Pritzker’s path should serve as a bright red flag to Illinoisans weighing whether to back him.