The pros and cons of Gov. J.B. Pritzker’s signature issue — a proposed graduated income tax — were discussed and dissected at length during a panel discussion in Oak Park, Illinois.
During his first year in office, Gov. JB Pritzker was able to attain numerous legislative wins, which included everything from legalizing sports betting and the recreational use of cannabis, to passing a General Fund budget through the Legislature with bi-partisan support.
If the American Dream means anything, it’s this: The circumstances of a person’s birth ought not limit what he or she can become in life. Everyone should have the same opportunities to achieve, irrespective of race, ethnicity, gender or income class. Differentials in life outcomes should be predicated solely on individual choices, drive and luck.
J.B. Pritzker's first year as governor stands in stark contrast to that of his immediate predecessor Bruce Rauner. While the Rauner Administration struggled to find common ground with the General Assembly on a host of issues, Gov. Pritzker worked both sides of the aisle to gain consensus on numerous pieces of significant and in some cases groundbreaking, legislation -- especially on fiscal and tax policy.
This included everything from creating new revenue by authorizing a Chicago casino and legalizing cannabis, to establishing a $45 billion capital program and passing pro-business reforms championed by Republican House Minority Leader Jim Durkin. Pritzker also got a General Fund budget passed on his first try, with bipartisan support to boot. Whether or not you'd favor any one or more of these initiatives, you have to acknowledge it's somewhat remarkable for a rookie governor to have so many legislative successes right out of the box.
Polish News Media, INFOLINA, quotes CTBA.
Illinois is one of the very few states that exempts all retirement income from taxation. It is the state’s most expensive exemption, costing Illinois more than $2 billion in foregone annual revenue. From a tax policy standpoint, this makes no sense—all types of income should be treated equally
Too often, major policy initiatives get framed as "either-or" propositions. This is understandable, given how politically driven the legislative process is. Portraying a potential reform as a stark choice between doing what's right, or supporting an alternative that's wrong, is a great way to instill party discipline and gain political advantage. It also ignores the reality that in most complex policy areas, following best practices usually incorporates more of a "both-and" approach, than the politically favored "either-or." A tax systems should incorporate revenue sources that promote both: tax fairness, by responding to ability to pay; and fiscal stability, by ensuring revenues don't fall too precipitously during poor economic cycles. This isn't a cause of "either-or," but rather "both-and."
A guest post from Illinois PIRG quotes Ralph Martire on the importance of a rational economic base for revenue in support of a new PIRG report on corporate tax loopholes.
Pritzker stumped on a progressive income tax, and Republicans don’t have the votes to block it. The stars may have finally aligned for a graduated plan in Illinois. An article on the graduated income tax cites CTBA's report, arguing that Illinois' current tax system does not generate enough
Gov. J.B. Pritzker took office Monday as Illinois’ 43rd governor, putting a Democrat back in the governor’s mansion after four years under Republican rule.
In a speech directly following his inauguration, held at the Bank of Springfield Center, he emphasized the need for Republicans and