Without pension reform, progressive income tax amendment guarantees tax hikes on Illinois’ middle class – IL Policy

If annual income tax revenue growth caused by secular income growth matches the state’s recent experience, the progressive income tax rates passed by the Senate will fail to pay off the state’s pension debt – ever.
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NB-Chicago
4 years ago

From listening to wttw ladt night, they briefly mentioned there are in reallity two bills to vote on for graduated income tax–1.)bill to allow dupped voters to vote on const amendment, 2.) Second bill on tax rates, multi taxing of revenue scorces etc for graduated tax plan–i assime second bill is where all the actions at and madigan will hold top secret till last minite and give legisalature 5 seconds to vote on? Googled but cant find any info.

nixit
4 years ago
Reply to  Mark Glennon

Is there a way to legislate limits on the tax rates before the constitutional amendment appears on the ballot? For example, could the bill on the tax rates be written so that they are in effect for a specific time (ie “no rates can be raised nor new brackets created until 2030”) and tied to passage of the amendment? Something that essentially locks in the legislature to what they proposed so that, if/when the amendment passes, they are bound to what’s in that bill and what they “promised” everyone?

NB-Chicago
4 years ago
Reply to  nixit

That would be great, but instead you’ll get madigan holding top secret bill till last minite, and offering a lot of goodie side deals to get legislator to blindly sign on as usual pay to play… and no rep or anybody in press is saying anything

NB-Chicago
4 years ago
Reply to  Mark Glennon

Is there any rep trying to put anything legislation out there like even if it gets shot down in an instant at least it would draw a line in the sand…or just complaining?

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