Contrary to claims from both Republicans and Democrats, and despite raising nearly $1.1 billion in new taxes and fees for operations, the fiscal year 2020 budget is out of balance by between $574 million and $1.3 billion.
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.
Chicago’s McCormick Place convention center has been a political money pit for nearly 60 years. And now state lawmakers are considering whether to keep subsidizing failure with more tax dollars.
An amendment that would allow lawmakers to scrap Illinois’ constitutionally protected flat income tax and replace it with graduated tax rates will appear as a referendum question on voters’ 2020 ballots.
Southern Illinoisans want their representative to vote “no” on Gov. J.B. Pritzker’s progressive tax constitutional amendment. This preference extends beyond GOP voters, with independents also showing strong opposition.
In a party-line vote that even fellow lawmakers were unaware of, Illinois House Democrats passed out of committee a progressive income tax rate structure that would take effect should Gov. J.B. Pritzker succeed in scrapping Illinois’ constitutional flat income tax protection.