
Mark Denzler, President & CEO of the IMA, testified in opposition to the graduated income tax in the Senate Executive Committee. In his remarks, he noted that this multi-billion dollar tax hike will fall largely on small and mid-sized companies across Illinois. It will also create a punitive trifecta with families and businesses facing the highest sales tax rate, second highest property taxes, and the third highest income tax rate in the United States. The IMA released the following statement following the vote: “Illinoisans don’t trust Springfield politicians to be mindful stewards of their tax dollars and this proposal is a prime example. Governor Pritzker and his allies are asking hard working families and job creators across Illinois to pay billions of dollars in new taxes while refusing to vote on the tax rates first or even put them into legislation. Why? It’s been more than five weeks since the Governor talked about rates but it appears Springfield is setting the table for a political bait and switch scheme where taxpayers will be asked to pay much higher rates while Springfield politicians continue their spending spree. All of this is occurring without addressing any of the real, structural problems facing our state. Today’s tax hike plan will hit small manufacturing companies, family-owned restaurants, local beer distributors, car dealers, and family farmers. They deserve an open and transparent debate.”
News:
- Illinois Governor Wants a Graduated Income Tax. Can He Sell the Idea to Voters?
- Pritzker Tax Plan Ranges From 4.75 Percent to 7.95 Percent
- Illinois’ Gov. Pritzker’s tax plan has 7.95 percent top rate
- How the proposed tax on Illinois millionaires compares to other states
- Illinois Governor Proposes a ‘Fair Tax’
- Graduated tax opposition targets House Dems in ad campaign
- Progressive tax could bring more volatility to Illinois budget
- Illinois House GOP reaffirms graduated tax opposition
- Illinois House Republicans argue against graduated tax, call it a ‘blank check’ to lawmakers
- Legislation unveiled to bring graduated income tax to Illinois
- Graduated tax amendment clears Illinois Senate committee
- Graduated income tax amendment approved by Illinois Senate committee
- Pritzker’s path to a progressive income tax isn’t as smooth as you’d think
Editorial and Opinion:
- Pritzker’s Tax Plan: Now We Know
- Gov. Pritzker’s $3.4 billion tax hike: How to fan the ‘Illinois Exodus’
- A Graduated Income Tax That Isn’t Graduated – At Least For Some
- How Pritzker’s tax proposal sets up a pricey cliff and penalizes marriage
- The fight over Pritzker’s tax plan has hit TV. Could it become Illinois’ most expensive ballot push?
- Illinois Considers Ditching Its Flat Income Tax
- Illinois should attack government bloat before it enacts a progressive income tax
- When Taxing the Rich Isn’t Enough
- In Illinois, beware tax tigers and Trojan Horses
- Study: Pritzker’s tax hike more likely to force out middle, lower earners
- This is the biggest whopper of all told by graduated tax backers
- Pritzker’s dangerous new tax is like giving a kid a blank check in a candy store
- Lawmakers crack open Pandora’s box with graduated income tax amendment
- Another View: Pritzker shouldn’t use tax $ to sell referendum