Ideas Illinois chairman says Pritzker's tax proposal sticks 'taxpayers with a massive jobs tax'
Ideas Illinois Chairman Greg Baise is critical of the graduated income tax proposal being pursued by Gov. J.B. Pritzker and House Speaker Mike Madigan.
“Today is the first step by Springfield politicians to hand themselves a blank check with middle class families' hard-earned money,” Baise said in a press release after Democrat leaders’ unveiled details of Pritzker’s plan, which includes a constitutional amendment. “With zero transparency and zero accountability, Pritzker and Madigan are preparing to stick taxpayers with a massive jobs tax that will hurt job creators in our state.
“At the very least, the politicians who are set to support yet another massive tax hike should do the right thing and release their full tax returns so voters have a clear picture," he said in the release.
Pritzker’s proposal calls for the state income tax rate to almost double from the current flat tax rate of 4.95 percent for taxpayers annually earning more than $1 million.
Supporters of the measure insist that translates to just 3 percent of the state population while accounting for at least $3.4 billion in new revenue for the state.
Known as SJRCA001, the synopsis of the bill as introduced states it "provides that the income tax may be a fair tax where lower rates apply to lower income levels and higher rates apply to higher income levels. Provides that no government other than the state may impose a tax on or measured by income. Effective upon being declared adopted."
For the legislation to pass, a supermajority vote in the House is needed along with at least 60 percent of the vote when residents go to the ballot box in 2020.
Ideas for Illinois bills itself as a government website that promotes economic growth by promoting free-market principles.