Illinois legislators take a stand against a progressive income tax hike
The Tax Foundation—a nonpartisan, D.C.-based think tank—hosted a press conference in Chicago this afternoon on the effects of a proposed tax increase in Illinois. The Tax Foundation’s analysis of the proposed progressive tax legislation found that: Illinois’ “State Business Tax Climate Index” ranking could fall to 44th from its current 31st ranking if the proposed progressive income...
The Tax Foundation—a nonpartisan, D.C.-based think tank—hosted a press conference in Chicago this afternoon on the effects of a proposed tax increase in Illinois.
The Tax Foundation’s analysis of the proposed progressive tax legislation found that:
- Illinois’ “State Business Tax Climate Index” ranking could fall to 44th from its current 31st ranking if the proposed progressive income tax hike passes
- Illinois already fell from 17th over the last few years with several rounds of tax increases, which did not succeed in alleviating Illinois’ financial situation or improve the economy
- Higher and more progressive income taxes generally contribute to worsening economic performance
Lawmakers in attendance of today’s press conference include:
- State Rep. David McSweeney, chief sponsor of House legislation that opposes a progressive income tax increase in Illinois
- State Rep. Ron Sandack
- State Rep. Ed Sullivan
- State Rep. Darlene Senger
- State Rep. Tom Morrison
- State Rep. Patti Bellock
- State Rep. Jeanne Ives
- State Sen. Matt Murphy, chief sponsor of Senate legislation that opposes a progressive income tax increase in Illinois
- State Sen. Michael Connelly
The Illinois Policy Institute applauds these legislators for taking a stand against a progressive income tax increase, which would destroy the state’s business climate.
Illinois does not have a revenue problem; it has a spending problem. Lawmakers should keep their promise to the taxpayers who they represent and not double-down on policies that have proven to fail our already-floundering economy.
The Tax Foundation’s full report, “Illinois Considers Further Income Tax Increases as Temporary Tax Nears Expiration,” is available here.