Illinois Gov. J.B. Pritzker’s amendment would allow Illinois to impose an effective corporate income tax rate of up to 15.28% – the nation’s highest by far.
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.
By reducing administrative bloat in Illinois school districts, the bill would enable property tax relief while ensuring education dollars reach students and classrooms first, rather than bureaucrats.
Those pushing the bag tax in Illinois may not care much about the body of research on this topic. They’re looking out for a different kind of green. In a scramble for new revenue and an unwillingness to take on any reform on the spending side, the Statehouse has turned to creative ways to nickel-and-dime residents.
Shoppers across Illinois would pay a new state-level bag tax under Senate Bill 1240 and House Bill 3335. But Chicago shoppers, who already pay a city bag tax, would not.
Illinois Gov. J.B. Pritzker claims his progressive income tax will only affect the rich. But Illinoisans making as little as $26,100 would see an income tax hike under rates Pritzker cited in his budget address.