By raising the net cost of trading in a car worth more than $10k, this tax change will simply reduce how many people do it. In effect, this will cause more people to keep their cars longer, and (as usual) the static projections for incremental tax revenue will prove idiotically high.
Hey Pritzger (and pals) go sit on a revving chainsaw.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
By raising the net cost of trading in a car worth more than $10k, this tax change will simply reduce how many people do it. In effect, this will cause more people to keep their cars longer, and (as usual) the static projections for incremental tax revenue will prove idiotically high.
Hey Pritzger (and pals) go sit on a revving chainsaw.
older cars are usually less efficient, so they will make more money on their gas taxes this way… lol