So says Dan Proft (photo right), the organization's chairman, who issued a statement today in response to Illinois House Speaker Mike Madigan’s ongoing effort to round-up the necessary votes to make permanent the Democrat-led 2011 tax increases:
"In 2011, Chicago Democrats rammed through a 67% increase in the personal income tax and 46% increase in the corporate income tax on a straight party line vote with two promises: (1) the new revenue would go to pay down the state’s backlog of unpaid bills and abide its pension obligations; and, (2) the tax increases would be temporary, giving the state the necessary time and resources to stabilize its finances.
The first prong of this promise failed to materialize. Now the promise-makers want to break the second prong.
As the Illinois Policy Institute has pointed out, despite $18 billion in new state revenue since the tax increases, state pension debt has increased by $17 billion, the aggregate amount of unpaid bills has increased (as has the interest the state must pay on those overdue bills) and the state’s bond rating has been downgraded five times.
Now those same legislative leaders and the rank-and-file legislators who do their bidding want to make Illinois families pay for their cowardice and broken promises.
Liberty Principles PAC intends to monitor very closely the votes of those legislators up for re-election in November, such as the 11 House Democrat sponsors of HB 1064, who made a commitment to sunset the 2011 tax increases as originally promised.
I hasten to add that Liberty Principles PAC’s willingness to engage is bipartisan in nature, as was proven in the March primary election. We will also take an interest in the political future of any Republicans who would aid and abet defrauding Illinois taxpayers.
If we do not hold to account legislators who make promises they know they will not keep, we will beget more of those kinds of legislators. And if we do not have legislators who keep their promises, Illinois will keep losing businesses and families to states that do.
Liberty Principles PAC has a balance of more than $1 million in its campaign account currently. I am confident that figure will grow substantially between now and November.
We plan on deploying those resources to support state legislative candidates committed to the economic liberty policy agenda and to oppose those who are not so committed. The vote on whether to make the 2011 tax increases permanent will provide a handy case study to determine which state legislators belong in which categories."
The Illinois House is expected to vote on whether to make the tax increase permanent before it adjourns later this month.