Evidence from Connecticut suggests the progressive income tax could cost Illinois homeowners substantial equity in their homes.View Report
Congress provided tax benefits for business losses in the CARES Act to help offset economic challenges during the pandemic. Gov. J.B. Pritzker wants to undo that relief to raise revenue for Illinois.
Ownership of bars and restaurants also has declined over 70%, thanks to COVID-19 and associated restrictions
A “conservative” estimate predicted 20% of Illinois restaurants would not survive COVID-19 closure orders, but predictions ranged as high as 85%. Some are fighting back.
Combined state and federal income taxes would have small businesses pay more than 50% of their top-end income in taxes.
Despite the hardships small businesses face from COVID-19 restrictions, Pritzker continues to push for a tax increase on them.
Pritzker’s progressive income tax amendment would hurt small, minority-owned businesses the most.
Illinois Gov. J.B. Pritzker again turned to criminal penalties to gain compliance with his coronavirus mandates. He is targeting business owners when customers and staff fail to wear masks.
Illinois Gov. J.B. Pritzker is again turning to criminal penalties to gain compliance with his coronavirus mandates. He is targeting small business owners for mask violations.
Pritzker has been pushing hard for a progressive income tax amendment as a way to generate $3.7 billion for state spending.
The most optimistic forecast shows 20% of Illinois’ food service business closures will be permanent. But up to 85% of restaurants expect to close permanently.