SJRCA1

  • Collins applauds House move to put Fair Tax amendment to 2020 vote

    collins 052919SPRINGFIELD– State Senator Jacqueline Collins issued the following statement Tuesday after the Illinois House approved a ballot measure that would allow Illinoisans to vote in 2020 on whether to end the state’s regressive flat income tax system.

    “The House’s action today means Illinois citizens will have the power to put in place a fairer income tax system which eases the burden on the working poor and middle class while placing more responsibility on the very wealthy. In the 16th Senate District, where most people earn far, far less than $250,000 a year, my constituents will see relief under this plan, while millionaires will pay more.”

    Taxpayers can visit the Governor’s website for a detailed breakdown of how an Illinoisans income tax would change under the proposed system based on their current income.

    “All surrounding states and the federal government have progressive income tax systems which collect more from their wealthier citizens and less from those less fortunate,” Collins said. “Illinois has changed a great deal since the flat income tax was codified in our state constitution in 1970. Income inequality has only risen. Real wages for the lower and middle class have at best stagnated and at worst been driven down. Now is the time to take this step, and I want to thank Governor Pritzker for his leadership on this issue.

    “It can be easy to think of taxes as so much ink on paper. The truth is that our budgets, our structures of taxation, are the foundations of our government’s moral stance. Today was a major step that moved Illinois toward a fairer tax where the poor will not bear the cost of building our bridges, funding our schools and safeguarding our communities.”

    With the Constitutional amendment having passed both chambers of the General Assembly, it will be put to a vote in the 2020 general election.

  • Manar votes for historic overhaul of Illinois tax structure

    Senator ManarIncludes income tax cut, property tax relief for working families

    SPRINGFIELD – Nearly all working men and women in the 48th Senate District would pay less in state income taxes under a historic overhaul that was approved by the Illinois Senate Wednesday.

    State Senator Andy Manar (D-Bunker Hill) voted for a package of measures that includes new income tax rates requiring millionaires to pay their fair share to the state, as well as tax relief for property owners and elimination of Illinois’ estate tax.

    “Anyone who makes less than $250,000 a year will get a tax cut under this plan. That’s nearly every single taxpayer I represent,” Manar said. “This is the right thing to do for people who find themselves working harder but taking home less. Those who have benefited from a robust economy can pay a little more to help bring stability to the state of Illinois.”

    Under the proposal, only the top 3 percent of Illinois earners would pay more in income taxes. Everyone who makes less than $250,000 a year would pay a rate of 4.95 percent or less.

    The package is part of a constitutional amendment that will require voter approval in 2020. The plan approved by the Senate Wednesday must go to the House for consideration next.

    Manar, who shepherded the state’s recent revamp of the school funding formula, sponsored the property tax relief portion of the package. Under this measure, as long as the state lives up to its responsibilities to adequately fund school districts, including lunch programs and student busing costs, there would be little need for districts to go to local property owners seeking tax hikes.

    Property tax relief has to be a priority for the state, Manar said, noting that his legislation gets at the root of what largely drives high property taxes across the state – funding for local school districts. In addition, it forces the state to own up to its responsibility of fully funding schools.

    “It’s time to turn off the spigot of property taxes and make state funding the predominant source of support for schools,” he said. “This is the next step toward bringing true equity to the funding of schools while acknowledging the property tax burden has to be reduced over time.”

    The package of legislation – the fair tax rates, elimination of the estate tax and property tax relief – are contained in Senate bills 687, 689 and 690. In addition, Senate Joint Resolution Constitutional Amendment 1 (SJRCA01) simplifies constitutional language about income taxes to allow for a fair tax while eliminating Illinois’ current outdated flat tax system.

    Income tax rates contained in the Senate proposal:

    SENATE RATE PROPOSAL

    Single Filers

    Married / Joint Filers

    Rate

    Income Range

    Rate

    Income Range

    4.75%

    $0 - $10,000

    4.75%

    $0 - $10,000

    4.9%

    $10,000 - $100,000

    4.9%

    $10,000 - $100,000

    4.95%

    $100,000 - $250,000

    4.95%

    $100,000 - $250,000

    7.75%

    $250,001 - $350,000

    7.75%

    $250,001 - $500,000

    7.85%

    $350,001 – $750,000

    7.85%

    $500,001 - $1,000,000

    7.99%

    Over $750,000*

    7.99%

    Over $1,000,000*

    *If over this income threshold, all income is taxed at 7.99% rate

    Corporate Rate

    Current Rate

    7.0%

    Adjusted Rate

    7.99%

    Applies to all corporate income.

  • Steps toward stability: Illinois Senate leads way on Fair Tax overhaul

    jjc 050119SPRINGFIELD — On Wednesday, the Illinois Senate approved a series of proposals designed to overhaul an outdated tax system and bring newfound stability to the state’s economy.

    Illinois Senate President John J. Cullerton issued the following statement:

    “Year after year our state has gone from one crisis to the next. At the heart of it all is a nearly 50-year-old provision in our constitution that simply no longer reflects our modern economy. Today, we took an overdue first step toward giving voters the power to change it.”

  • Lawmakers vote to implement fair tax, provide relief to majority of Illinoisans

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  • Harmon moves Illinois one step closer to fair income tax

    harmon 041019Plan would tax lower incomes at lower levels, higher incomes at higher levels

    SPRINGFIELD – Illinois is one step closer to amending its Constitution to allow for a fair tax after Senator Don Harmon (D-Oak Park) passed a Constitutional amendment out of committee today.

    The proposed Constitutional amendment would remove language requiring a flat tax and allow the General Assembly to set lower rates for those making less and higher rates for the wealthiest Illinoisans.

    “Our current tax system is punitive to middle class and working families in Illinois because it imposes a greater burden on them than on the wealthiest in our state,” Harmon said. “With a fair tax, we are simply asking top earners to pay their fair share.”

  • Democratic lawmakers file legislation to amend Constitution to allow for a fair tax

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  • Harmon advances fair tax amendment in Senate

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