Tobin Warns of Multi-Billion Illinois Dollar Tax Hike

A press release from Jim Tobin’s

The Budget Compromise is a Multibillion Dollar Income Tax Hike!

Chicago, IL – The Illinois Senate is expected to vote on a budget compromise this Wednesday, the day of Gov. Bruce Rauner’s (R) State of the State address. The proposal will include hikes to Illinois’ personal and corporate income tax rates and neglects to consider substantive, long-term reforms to the state government.

Taxpayers United of America (TUA) urges the Illinois Senate to reject this deeply flawed budget.

Jim Tobin

“The only compromise found in the new budget proposal is a growing tax burden for Illinois residents in exchange for minimal reforms,” said TUA’s president, Jim Tobin. “Passing this budget will continue to allow Springfield to operate its fiefdom without systemic changes to Illinois’ state government.”

Under the proposed budget compromise, the state’s personal income tax would increase from 3.75 percent to 5.25 percent, surpassing former Gov. Quinn’s (D) 2011 sixty-seven percent income tax hike, which sunset in January 2015, and failed to significantly reduce the state’s unfunded liabilities or improve Illinois’ financial standing.

The state’s corporate income tax rate would also be hiked under the proposal, from its current rate of 7.75 percent (including the often-overlooked personal property replacement income tax surcharge of 2.5 percent) to a rate of 9.5 percent, one of the highest corporate income tax rates in the country.

“According to the Tax Foundation’s most recent data, Illinois is tied with Wisconsin and California for the fourth highest overall state and local tax burden,” said Tobin. “Taxpayers are fleeing the state at the highest rate in the country for better economic opportunities, which increases the tax burden for those of us who cannot move or refuse to leave the lives we’ve made for our families in Illinois.”

“The Senate’s proposal includes a two-year property tax freeze and minor government pension and worker’s compensation reforms, but the hikes to the personal and corporate income tax rates will only continue the financial downfall of Illinois,” said Tobin. “We urge the Senate to reject this tax-increasing budget compromise in the interest of the taxpayers of Illinois.”


Tobin Warns of Multi-Billion Illinois Dollar Tax Hike — 5 Comments

  1. Illinois would benefit in many different ways if our Federal and State government voted to re-legalize industrial hemp.

    Hemp produced locally would provide jobs and organic income.

    By organic income I mean money derived from growing or harvesting plants or animals.

    One hemp seed produces a multiple thousands increase in oil and fiber every planting.

    Taxing and fining the populace is not organic income, it is just taking already made income to benefit government.

    I say tax the plant, not the person. Hemp has GREAT potential, for more information just search youtube.

  2. I say, quit trying to freeze taxes and coming up with new sources of revenue!

    Cut the DAMN SPENDING!!!!!!!!!!!!!!!!!

    Remember, the Springfield idiots filed the tax freeze bill along with the tax INCREASE bill so that if one does NOT pass, the other one automatically fails!!!

    There is bodily function engaged in by chickens which produces a product that describes this type of legislation and that product is not edible!!

  3. I know you’ll appreciate this Gary…

    Frehrichs put out a statement wanting Trump to maintain the Federal ban on banks accepting money from marijuana dispensaries and growers legally operating within state law but outside federal law.

    This is a detriment to tax collection, financial sector growth, legal marijuana industry growth, infrastructure growth…

    On and on.

    Ironically the Democrats passed legal marijuana operations but now don’t want the financial benefit to public coffers this legality may bring.

    Frehrichs is a master of political fundraising and saying this he can hit up all sides for donations but practically he is only helping to destroy Illinois’ economy in yet one more way.

    He is the Treasurer of our state and clearly operates against the financial health and welfare of it.

    Why grow an economy when The People still have a little more money to steal?

  4. Thank you Priest, did not know that very important action taken by Mr. Frehrichs. Gridlock…

    I now see that the current head of the D.E.A. considers Medical cannabis “A JOKE”, and has banned CBD oil by putting the “SCHEDULE 1” label on this healing, non psychoactive oil. Kratom as well.

    If Pres. Trump REALLY wants to “drain the swamp” I suggest he get a new drug czar that has the courage to say the truth about cannabis, remove it from ‘Schedule One’, and allow US based researchers to study the medical benefits.

    I do believe the DEA is the ‘strongman’ for Big Pharma, allowing highly addictive and profitable drugs (PILLS) to be marketed while banning the most useful and safest medicinal plants.

    Can’t patent a plant, you see.

    Jesus said that the love of money is the root of all evil.

    I say take the big money out of the illegal drug trade and you will see less evil. America will be better off when farmers can grow hemp and cannabis is treated like alcohol.

    I think the old Motorola plant would be a great research and growhouse for hemp and other cannabis industries.

    Just a thought…

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