On November 3rd, voters in Illinois will get an opportunity to have their voices heard on a statewide policy question. A question asking whether voters approve of the progressive income tax measure will appear on November General Election ballots. Opponents argue it would open the door to future tax hikes that hurt all taxpayers and small businesses. 93rd District State Representative Norrine Hammond, of Macomb says the tax rates could change….
“In full disclosure, I will say that I did not vote to put this on the ballot. And some of the biggest reasons I did not vote for it, and I’m not going to deny that there are entities, schools and others that would like to see more funding, but there is nothing in this amendment that puts any rates, any categories. It’s called a fair tax, it’s called a progressive tax, it’s been called the millionaires tax. But there is nothing in that amendment that specifies exactly who is going to be taxed and as a result if it goes in the constitution those rates can be changed any time.”
Proponents argue that the proposal would make the Illinois tax code fairer and provide tax relief to most Illinoisans. Scott Stoll from Rushville, candidate for the 93rd District State Representative seat says the wealthy would have to pay their fair share…
“This progressive tax is going to keep our middle and lower class either at where we’re at currently with this or at least give a modest decrease to it. But the biggest parts of that is that is that we’re effectively forcing these large corporations in Illinois and the wealthy to pay their taxes and do their fair share. It should add somewhere, I think the numbers between 3 1/2 to 4 billion dollars in revenue, back into the state, when all said and done. Now of course, that’s a projection, and projections are just guesses based on data. And does it completely squash out our deficit? No is doesn’t, but it certainly does a substantial amount for giving a break to our working class because that’s what hurting right now, especially in this pandemic is you see the working class hurting so much.”
The graduated income tax proposal on the November 3rd ballot, will be formally titled the “Allow for Graduated Income Tax Amendment”.
via Prairie Communications, LLC
August 25, 2020 at 09:47AM