A new report would have Illinoisans believe that a progressive income tax means tax cuts and economic growth. Illinois lawmakers’ tax-and-spend tendencies and evidence from all 50 states say otherwise.
A progressive income tax isn’t really about fairness. It’s just the next idea in a long line of failed policies hoping to pay for spending levels Illinoisans can’t afford.
Since 1991, some Illinois counties have traded voters’ ability to influence reductions in property taxes for a statutory limit on their growth. A recent Senate bill, however, would restore voters’ ability to reduce property tax levies through referendums.
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.