By Jane McEnaney -
The Tax Foundation’s analysis of the proposed progressive tax legislation found that: 1) Illinois’ “State Business Tax Climate Index” ranking could fall to 44th from its current 31stranking if the proposed progressive income tax hike passes, 2) 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, and 3) Higher and more progressive income taxes generally contribute to worsening economic performance
Lawmakers in attendance at 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.
Jane McEnaney is Manager of Government Affairs at the Illinois Policy Institute