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.”

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