|
Two joint resolutions to raise over $6 billion in new revenue
have been filed by Illinois Democrats with support from a group
called the Illinois Revenue Alliance. Members include the
Chicago Teachers Union, which just scored a new contract from
Chicago Public Schools worth $1.5 billion, the Illinois
Coalition for Immigrant and Refugee Rights, and the Workers
Center for Racial Justice.
A briefing from the Alliance contends that the state’s existing
tax system is unfair to low-income residents and the new taxes
will support immigrant communities, healthcare access for all,
and provide direct cash assistance.
“People from other countries can come to Illinois and get gold
plated healthcare while Illinoisans have to decide if they want
to go to the dentist or the eye doctor because they can’t make
ends meet,” said state Sen. Jason Plummer, R-Edwardsville,
during a news conference Thursday.
Among the new taxes being proposed include $1.7 billion excise
tax on capital gains, an $840 million billionaire wealth tax,
and $830 million to raise the corporate income tax in Illinois.
At 9.5%, Illinois already has the third-highest corporate income
tax rate in the country.
“They claim the plan targets the wealthy, but in reality, it
just hits small businesses the hardest,” said Plummer. “Those
small businesses create the most jobs in Illinois. These aren’t
billion dollar corporations with endless resources, these are
family-owned shops, start-ups, farms and small manufacturers
from the Wisconsin border to Kentucky border.”
Plummer added that the proposal sends a clear message to
businesses in Illinois what the reality is going to be for them
if they try to do business in this unfriendly state.
A request for comment from the legislation’s sponsor, state Rep.
Will Davis, D-Hazel Crest, and a member of the Illinois Revenue
Alliance was not answered.
|
|
