Implementing the “millionaire” tax would give lawmakers the power to tax retirement income. Every state with a progressive tax also taxes retirement income.
The Cook County Board voted unanimously to repeal the sticker mandate on drivers living in unincorporated Cook County starting in 2023. Drivers will save at least $80 a year.
Aldermen are worried sports betting taxes will yield chump change while damaging the prospects for new casinos in Chicago. They are calling for a delay in the action.
A bipartisan bill to repeal a $100 hike on license plates for trailers has so many sponsors, it could pass the Illinois House. Still, the bill is stuck in committee because Gov. J.B. Pritzker’s administration wants to hold on to the revenue.
Gov. J.B. Pritzker’s push for his “fair tax” is headed for rejection by Illinois voters. State lawmakers now must face the public pension debt driving the state’s fiscal crisis.
Multiple members of the governor’s inner circle have publicly backed retirement taxes, even though Pritzker now denies he will use his “fair tax” on the state’s seniors.
Taxing retirement income is not a new idea to Illinois politicians, but denying they want to tax seniors is new since that part of the “fair tax” plan slipped out.
The lawsuit challenges the language that will appear on the Nov. 3 ballot asking whether voters want to scrap Illinois’ constitutional flat tax guarantee – opening the door to a retirement tax.
Government unions and their PACs have spent more than $1 million pushing the progressive tax on the Nov. 3 ballot – and are using misleading information.
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.