Illinois Policy Institute expert available to speak against the tax
SPRINGFIELD, Ill. (April 10, 2019) – A tax hike is on the table in Springfield, and if it passes, the typical Illinois family could be forced to shell out as much as $3,500 more in income taxes each year.
Today, the Illinois Senate Executive Committee will hear testimony on changing Illinois’ constitutionally mandated flat tax to a progressive income tax. A vote out of committee is the first step lawmakers would take to pass the amendment and put it on the ballot for voters.
Orphe Divounguy, chief economist for the nonpartisan Illinois Policy Institute, will be in Springfield to provide Senate testimony in opposition to the progressive income tax. He is available, along with other Institute experts, for media interviews on the issue in Springfield, Chicago and across the state.
WHAT: Testimony against progressive tax during Senate Executive Committee meeting
WHEN: 11 a.m. Wednesday, April 10
WHERE: Room 212, Illinois State Capitol Building, 302 S 2nd St. in Springfield
- If the Senate Executive Committee approves the amendment, it would go to the full Senate for a vote as soon as Thursday, April 11.
- Illinois’ House and Senate need two-thirds of lawmakers to vote in support of the amendment, 40 in the Senate and 71 in the House.
- Lawmakers would need to approve the measure for the 2020 ballot by May 3, 2020.
- Pritzker has promised his rates would pay down the bill backlog ($8.4 billion), fix Illinois’ pension debt ($134 billion) and close the budget deficit ($3.3 billion). He claims the new tax structure will raise an additional $3.4 billion.
- However, Gov. J.B. Pritzker’s proposed tax rates could not generate enough revenue to fund his spending promises without hitting middle-class Illinoisans with yet another tax hike. According to the Illinois Policy Institute’s estimates, his revenue would likely fall $1 billion to $2 billion short. No independent group has been able to recreate Pritzker’s revenue estimates.
- In order to fully fulfill Pritzker’s promised spending, the typical Illinois family would be on the hook for a tax increase of up to $3,500.
- Typical property tax increases alone would wipe out Pritzker’s proposed income tax relief in the first year his plan would be allowed to take effect.
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