The fix is in. Democratic leaders want you to bail out their spending-and-borrow addiction with a massive tax hike.
The back room deal, announced late last night, would boost the state's personal income tax by 75 percent − up to 5.25 percent from the current rate of 3 percent. You can find out exactly what this would mean to you with our UPDATED tax hike calculator. We will have that available on IllinoisPolicy.org
Consider this: A firefighter and a preschool teacher with two kids earning a combined $80,000 would pay $1,620 in higher taxes under the Quinn/Madigan/Cullerton agreement. That's on top of the $2,160 they're already paying in state income taxes. That's food off the table, clothes off their backs and savings from college and retirement accounts.
Will you stand up to this injustice?
Amazingly, the deal will also hike the corporate income tax rate. Combined with the personal property replacement tax and the federal corporate tax, Illinois would have one of the HIGHEST
corporate income tax rates in the world. You don't have to be a rocket scientist to figure out this means bad news for job growth
With high property taxes, high sales taxes and now high income taxes, the flight to low-tax states
will only pick up speed.
Enough is enough.
Oh, and the tax hike will be paired with billions in new borrowing and spending programs. Real spending reforms are off the table.
It doesn't have to be this way. You CAN do something about it.
Your state legislators need to hear from you.
Whether you're represented by a conservative Republican or a liberal Democrat, this massive money grab cannot go unanswered. A simple phone call make the difference.
Look up your legislators and their contact information here
, or call 217.782.2000
for the Capitol switchboard.
John Tillman, CEO
Illinois Policy Institute