After Illinois governor Jay Robert “J. B.” Pritzker’s failed attempt to raise the Illinois state income tax with a graduated tax, Pritzker (D) has announced a plan to increase business taxes by an estimated $900 million.
“For Pritzker, to finish what he started with his lockdown and finish off small businesses is disgusting, but not out of character for him,” said Matthew Schultz, Executive Director of Taxpayers United of America (TUA). “In between the lockdowns, stealing tax cuts meant to help businesses, and now the closing of unspecified loopholes, Pritzker has shown nothing but contempt for struggling Illinois businesses.”
“Why is Pritzker increasing taxes? It is not for so-called services,” said Schultz. “Pritzker’s only goal is to funnel as much money as he can into the pockets of retired Illinois government employees. Pritzker’s loyalty to this affluent government class is so strong he would rather cannibalize parts of the state budget, than to dare touch their lavish, gold-plated pensions.”
“The Illinois government pension system has been crowding out state and local Illinois government budgets for years, and is the primary reason that politicians have raised Illinois taxes. However, taxes are also the top reason for residents fleeing Illinois. Since 2014, Illinois has seen its population continue to decline, and higher taxes will continue to exacerbate this problem.”
“Every person who leaves Illinois represents one less taxpayer, one less employee, and one less customer for businesses. Every person who leaves is a direct reduction in the size of the Illinois economy. There are increasingly fewer reasons to stay in Illinois, and ever more reasons to move. The state of Indiana, flush with cash from tax refugees fleeing Illinois, is offering money for people to move there. Contrast that with Illinois under Pritzker, which was set to steal another estimated $1.7 billion yearly from taxpayers in 2020.”
“There are solutions to fix Illinois. Pritzker could work to grow the Illinois economy, and thus the tax base. He could reform the Illinois government pension system to be fairer for taxpayers and ease budget problems. He could allow local governments to declare bankruptcy, and reform the budget for future growth. Instead, Pritzker has chosen the willful delusion that Illinois’ taxpayers and businesses can be taxed more forever. Eventually, something has to give, and it is looking more and more that it will be the economic backbone that is small business.”