ILLINOIS LEGISLATORS TAKE A STAND AGAINST A PROGRESSIVE INCOME TAX HIKE

Illinois Review –

By Jane McEnaney –

The Tax Foundation—a nonpartisan, D.C.-based think tank—hosted a press conference in Chicago this afternoon on the effects of a proposed tax increase in Illinois.

The Tax Foundation’s analysis of the proposed progressive tax legislation found that: 1) Illinois’ “State Business Tax Climate Index” ranking could fall to 44th from its current 31stranking if the proposed progressive income tax hike passes, 2) Illinois already fell from 17th over the last few years with several rounds of tax increases, which did not succeed in alleviating Illinois’ financial situation or improve the economy, and 3) Higher and more progressive income taxes generally contribute to worsening economic performance

Lawmakers in attendance at today’s press conference include:

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