Ultimately, the state’s spending and debt habits mean Pritzker’s plan will be a bridge to higher taxes for the middle class. Pritzker and state lawmakers should instead pursue sensible spending reforms that don’t require declaring open season on Illinois taxpayers.
Despite already shouldering one of the nation’s highest total tax burdens, middle-class Illinoisans would be exposed to extra income taxes under language proposed by Gov. J.B. Pritzker.
An idea to fix Illinois’ fiscal woes with a statewide property tax made headlines in May. Voters in Lake County will be asked whether state lawmakers should have the power to impose such a tax.
Three economists made headlines in May by suggesting Illinois levy a new, statewide property tax. DuPage County voters Nov. 6 can declare their stance on whether that tax should be an option.
With one proposal to pay off Illinois’ pension debt asking the typical homeowner to pay more than $1,900 in additional property taxes for the next 30 years, the stakes for pension reform have never been clearer.
When people can’t find good job opportunities in Illinois, they are too often forced to leave. And to take their place, too few have enough confidence in the state to move in from elsewhere and build a future.
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.