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The beat of the drum grows louder and louder calling for massive state income tax increase. In both the Illinois House and Senate, Democrats representing Chicago and its suburbs are the primary sponsors of legislation that will increase the state income tax by 67% and the corporate tax by 44% resulting in a loss of 100,000 private sector jobs. One downstate Republican is also a sponsor of the tax hike legislation. Those bills are Senate Bill 2288 (SB2288), House Bill 750 (HB750) and Senate Bill 750 (SB750). Read more

Total State Revenues Climb For Sixth Year In A Row

CHICAGO- For the sixth year in a row, since ITEF began tracking state revenue, total Illinois state revenue is significantly up from the previous year, according to data from the Illinois Comptroller’s website. Total tax revenue for the first 10 months of FY 2008 has increased $1.9 billion over the same period in FY 2007. Read more

Good news out of Springfield yesterday as the state senate voted on SJRCA92. This graduated income tax amendment needed 3/5 majority to pass, yet SJRCA92 received only 32%. We crushed this bill with only 19 senators voting “YEA”, 35 voting “NAY” and 1 voting “PRESENT”.

SJRCA92 is a terrible amendment because it allows for class warfare and it is just another way for the state to try to take more of your income. NTUI continues to urge the state government to control spending and fix a pension system that is out of control.

Click here to see how your senator voted.

We have been very successful getting our voices out about our displeasure with recently proposed tax increases such as SB 2288 and HJRCA 42. There is one bill that has been sitting on the back burner in Springfield for a long time and that is House Bill 750 (HB750). This bill is similar to SB 2288 in that it would raise our personal state income tax by 67% and raise the total corporate income tax rate to 10.5%, however, it would also create a state service tax on services such as hair cuts and auto repairs just to name two of many services to be taxed. This bill would also tax retirement income. This bill is much worse than SB 2288 and would be devastating to the state’s economy, especially in a time of economic downturn. The state of Illinois does not need more of your tax dollars. The politicians need to be held accountable for their gross over-spending.

Please contact your State Representative and tell them to oppose HB750 and to quit trying to take more of your hard earned money.

CHICAGO—The president of Illinois’ largest taxpayer organization yesterday urged State Senators to oppose the House Bill 1702 amendment, sponsored by St. Sen. Don Harmon (D-39, Oak Park), which would add more categories of retired state employees to a special pension formula originally reserved for law enforcement personnel. Read more

CHICAGO—The president of Illinois’ largest taxpayer organization today urged members of the Illinois State Senate to oppose SJRCA 92, a proposed amendment to the Illinois Constitution that would convert the state personal and corporate income taxes from their current flat-tax rate to a graduated tax rate. Read more

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