Illinois Gov. J.B. Pritzker is pushing a progressive state income tax without delivering the numbers to prove his promises. The numbers available from other states make it clear a progressive tax will hurt Illinois’ economy.
The Senate Executive Committee voted on an amendment scrapping Illinois’ constitutional flat income tax protection. But lawmakers have yet to introduce a bill outlining what the rates would be.
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.
The Jeep Cherokee manufacturer plans to lay off nearly 1,400 workers at its Belvidere, Illinois, facility and invest $4.5 billion in a 6,500-job expansion in Michigan.
Pritzker’s first budget address exalted the graduated income tax as a solution to the state’s fiscal problems. Despite evidence to the contrary, the governor is urging state lawmakers to speedily advance the measure.
Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.