August 24, 2020 – Governor Pritzker has donated more than $50 million dollars to the campaign to move to a flat tax from a progressive tax this November. A group known as “Vote Yes for Fairness”, has produced ads along with the AARP voicing support for the proposed constitutional amendment. Some of the content of the ads has been a claim that 97% of Illinoisans will pay the same or even less in taxes, while people earning more than $250,000 will pay more. One of the other ads claims that a yes vote will raise taxes on the top 3% of Illinois earners and generate nearly $3 billion dollars a year and help to protect retirement income.
Kevin Semlow, director of state legislation with the Illinois Farm Bureau, said $3 billion is unrealistic. “That is a very high number from what was originally discussed,” Semlow said. “What we have seen with the downturn of the economy, and the ability for individuals to prepare for this tax structure if it is approved by the voters, I think that number is much lower.”
Todd Maisch, president of the Illinois Chamber of Commerce, says the ads fail to mention that the legislature could change the rates at almost anytime and raise taxes on everyone.“The other thing they don’t point out is that Illinoisans are already paying the second-highest property taxes in the nation,” Maisch said. “They conveniently leave that information out.”
If passed, the new tax rates would go into effect Jan. 1, 2021.
