Prairie State Wire

Peter Breen insists his fierce rejection of Gov. J.B. Pritzker’s progressive tax agenda is all about the fundamentals.

“On the heels of all the recent rankings that show Illinois as the worst state in the country for tax burden, we simply can’t afford this graduated income tax,” Breen told the Prairie State Wire. “Illinois is already considered one of the worst places for small biz in the country and the graduated tax would punish those who succeed with their small businesses.”

For those still in doubt, Breen, who is running against Democrat incumbent Terra Costa-Howard in the 48th District, points to ta recent study. A new Illinois Policy Institute analysis projects that small businesses across the state soon could be forced to pay as much as a 50.3% marginal income tax rate should the tax appearing on the Nov. 3 ballot in the form of a referendum question garner the support it needs for passage. Ignoring growing warnings from many that the tax stands to handcuff small business owners even more, the governor continues to push his signature proposal as one that will only mean higher tax rates for the state’s most affluent residents.

At around 60% of net job creation, small business owners currently rank as the state’s biggest job creators. But those numbers could soon be on the decline, with researchers finding an increase in the top marginal tax rate could mean a slide in the hiring practices of entrepreneurs and slumping earnings for workers.

“When you look at the upcoming election, folks in the 48th District have a clear choice between me and my opponent, who fully supports the tax,” Breen added. “My plan and my path has us improving the small business climate. Her actions would have us continue the decline we’ve seen for a while now.”

Breen said he takes solace in knowing many voters are now doing their own homework about the tax in arriving at a decision.

“Folks know we have a serious problem with the state economy and especially the state tax system,” he said. “Many of them are understanding that this hike would only make those problems worse.”

Breen said he is hoping that trend will quickly spread to all parts of the state.

“My sincere hope is you will see large margins of people in the suburbs reject this tax and people across the rest of state doing the same,” he said.