In the majority of Illinois’ large cities, the number of people moving to another part of the country is greater than the combined gains from more births than deaths and international immigration.
According to the Illinois Department of Revenue the progressive tax would've cost Illinois 20,000 private-sector jobs, 43,000 residents to other states on net, and $1.9 billion in GDP over the first four years.
Replacing Illinois’ fair, flat income tax with a progressive tax would mean that some married couples with both spouses working would pay more in state income taxes than if they remained single.
A progressive tax would give Illinois politicians carte blanche to raise rates, which would end up sticking middle-class taxpayers with rates originally intended for “the rich” – all while chasing still more residents and businesses out of the state.
The House speaker’s proposal to hike taxes on small businesses failed to garner the 71 necessary “yes” votes needed to pass out of the House on April 20.
In light of the Illinois General Assembly’s refusal to pass a balanced budget, the Unbalanced Budget Response Act is a prudent measure that would temporarily allow the governor to shift funds and reduce spending to balance the state’s budget.
The crisis threatens to burden taxpayers with massive, ever-escalating taxes to bail out a system that is not sustainable – government-worker pensions consume a fourth of the state’s budget.