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Friday, May 27, 2022

IL House Committee Backs Dems’ Call For “Fair Tax Resolution”

Speaker Michael Madigan, fair tax
Illinois House Speaker Michael Madigan. (IllinoisLawmakers on YouTube)

Chicago, IL-(ENEWSPF)- A House resolution calling on lawmakers to back a so-called “fair tax” plan cutting middle-class taxes while making millionaires and billionaires pay more was approved by a House committee Wednesday, according to a statement from House Speaker Michael Madigan’s office.

“Taxpayers and advocates for the middle class spoke out in favor of the measure, which challenges Gov. Bruce Rauner and Republicans to stop protecting a tax system that favors the ultra-wealthy and instead work with Democrats to enact a fair system that cuts taxes on middle-class and low-income taxpayers,” the statement says.

“The passage of this resolution shows that House Democrats stand ready to cut middle-class taxes, grow our economy and put Illinois on more sound financial footing,” said House Speaker Michael J. Madigan. “While Governor Rauner and the Republicans who follow him are still only interested in protecting a special deal for the ultra-wealthy, House Democrats will continue to fight for a fair tax that provides real relief to the vast majority of taxpayers, because a fair tax plan that works for the middle class is a plan to put more money in the pockets of working families, stimulate our economy, grow businesses and move Illinois forward.”

The House Revenue & Finance Committee voted to approve House Resolution 1025, which Madigan and House Democrats from across Illinois introduced last week. The resolution calls for a progressive tax like those currently in place in 33 other states—including Iowa, Kentucky, Missouri and Indiana—which would ostensibly put more money in working families’ pockets, “allowing them to reinvest in local economies and stimulate business growth and economic development,” the statement said.

Under Illinois’ current “flat tax,” which Democrats charge Rauner is “determined to protect,” a taxpayer earning less than $19,000 pays 13.2 percent of their income in state taxes, while those with an income of $498,000 pay only 4.6 percent of their income in taxes.

“Illinois’ working families are being stretched too thin because billionaires and big corporations aren’t paying their fair share,” said Jan Goldberg of Riverside, who testified before the committee. “Our families are paying the same tax rate as Bruce Rauner and Donald Trump, and critical services for our communities are being slashed left and right. We all hear politicians say they want lower taxes and better services, and now it’s time for them to back up their talk with action. It’s time to see who stands with the middle class by supporting a fair tax, and who is protecting the billionaire class.”

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