The proposed state constitutional amendment on the November 3 ballot, endorsed by Ill. Gov. Jay Robert “J. B.” Pritzker, would make the Illinois corporate income tax the third-highest in the country, said Jim Tobin, economist and president of Taxpayers United of America (TUA).
“Pritzker’s income theft amendment would change the Illinois state income tax from a flat rate tax to a graduated income tax,” said Tobin. “The state corporate income tax rate would jump from 9.5% to 10.49%, making it the third-highest corporate income tax rate in the country.”
“Another name for Pritzker’s proposed tax hike would be the Job Killer Tax. Taxpayers and companies are fleeing the state for states with lower taxes. The state’s population is dropping. The state economy is sick, and the state government is essentially bankrupt. Yet ‘J. B.’ wants to raise taxes even higher, which would crush small businesses already struggling from the impact of Pritzker’s soviet style lockdown.”
“What’s worse, Springfield politicians could raise the tax rates for each income level whenever they want, and as much as they want. You can be sure they will raise tax rates as sure as the sun will come up tomorrow.”
“The vote on the Pritzker theft amendment on November 3 will determine whether or not Illinois has a future. I urge all taxpayers to vote on this issue. There won’t be a second chance for Illinois.”