None of the three proposed amendments to the Illinois Constitution that would have repealed or endangered the state’s flat income tax protection advanced during this year’s legislative session.
Illinois voters soundly rejected a progressive state income tax because it was a path to tax retirees. That isn’t stopping state lawmakers from trying again.
Implementing the “millionaire” tax would give lawmakers the power to tax retirement income. Every state with a progressive tax also taxes retirement income.
On Nov. 5 Illinoisans will vote to elect two Illinois Supreme Court justices and nine appellate court justices, and whether to retain four sitting appellate court justices.
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.
The credit rating agency also said Illinois will soon pass the point of no return on public pension debt. It warned against schemes to stretch or delay pension payments.
Illinois’ tax code stands in the way of the state’s economic competitiveness. The combination of high tax burdens and a poor tax structure contributes to the loss of jobs and investment to other states. From a place of former economic dominance, Illinois now ranks 45th in gross state product (GSP) growth over the past decade...