Candidate JB Pritzker promised big things for Illinois…and Governor JB Pritzker is delivering. Already, Pritzker and Democrats put the state on the path to a $15/hour minimum wage. Next on the agenda is the Fair Tax – a plan that brings tax relief to over 97 percent of Illinoisans.
The Fair Tax plan that Pritzker released on March 7 ensures a measure of tax relief on income earners up to $250,000 – a whopping 97 percent of Illinoisans. Pritzker’s Fair Tax plan offers a blueprint to provide property tax relief, increases in the child tax credit, and income tax cuts for working and middle-class residents, all while boosting state revenues by $3.4 billion to get Illinois government functioning again.
With a must-fix-now structural budget deficit (where revenues can’t keep up with bare bones required for basic state investments) and more than $15 billion in debt remaining from Bruce Rauner’s chaotic four years, the Fair Tax plan restores certainty and stability for Illinois.
It’s a fair plan. It’s a bold plan. And, it’s a big plan. Here are the basics:
The Fair Tax for Illinois
- Tax relief for 97% of Illinoisans…anyone with an income up to $250,000;
- $100 million in property tax cuts…by increasing the property tax rebate by 20% for working and middle-class homeowners;
- Child tax credits for Illinois families;
- A $3.4 billion revenue boost to begin the hard work of digging out of the ruins Rauner left behind.
But the Fair Tax plan for Illinois is far from becoming a reality just yet. In order to reform the tax code, 2020 voters will have to approve a plan to remove our unfair flat tax system from the state constitution. This means that legislators in the House and Senate must agree on fair tax language and must put it on the ballot for a large majority of voters to decide.
Before it reaches a ballot there may be adjustments to the proposed Fair Tax plan. The IDCCA stands at the ready to help support plans as they maneuver through Springfield. And, of course, we’re preparing to push a constitutional amendment over the finish line in 2020.
With no shortage of Rauner allies opposing a fair tax that asks more of the ultra-rich, it’s critical we start sharing the message with our communities now. Think Big Illinois will become the valuable resource that Democrats and our pro-Illinois allies can use to better understand what’s at stake. Take a look, share and support the effort.
It’s clear that Democrats are taking the sorely-needed lead on bringing big things to Illinois. Stay in touch with us as we do all we can to help our leaders advance an agenda that finally brings stability to government and opportunity for all Illinois families.