A press release from State Rep. Allen Skillicorn:
Skillicorn Seeks Constitutional Amendment to Protect Retirement Income
SPRINGFIELD – State Representative Allen Skillicorn (R-East Dundee) has filed House Joint Resolution Constitutional Amendment 14 to protect Illinois retirees from another tax increase.
Skillicorn, who filed HJRCA 14 at the end of January, expressed shock at recent news that both the Commercial Club of Chicago and the Civic Federation have called for the state to tax retirement income to solve its long-standing budget woes.
Allen Skillicorn
“Encouraging the state of Illinois to tax retirement income to solve its budget problems is like giving a no limit credit card to a spend-alcoholic already drowning in debt, it’s absolutely ridiculous,” said Skillicorn.
“The State needs to take a major step toward cutting its out of control spending.”
HJRCA 14 specifically changes the revenue article of the state constitution to prevent the state from imposing a tax upon retirement income.
“Retirees across Illinois are already being taxed out their homes,” said Skillicorn.
“For many of those that haven’t already left, not having their retirement income taxed is the only thing keeping them here.
“But we can pretty much guarantee they’ll be gone if the state starts taxing it.”
Retirement income is one of the few things Illinois does not currently tax.
Moody’s also recently warned that another tax increase would cause even more taxpayers to leave Illinois, leading to more revenue losses and deepening the budget crisis.
For more information about HJRCA 14, visit: http://ilga.gov/legislation/Bi
HOOOORAY ALAN!!!!!
Also need a change in the Illinois Constitution to remove colas being given to retired government workers.
If Democrats and other politicians want to tax retirement income, then collect it ONLY from retirees who worked for the government such as teachers and their administrators. They can afford to pay more taxes since they are already receiving very high pension amounts and colas.
Another way to collect more tax revenue is to tax every retired government worker the total amount of the cola they receive each year thus eliminating their cola. This is fair since the vast majority of retired workers from the private sector, if they are even lucky enough to have a pension, do not receive colas.
There’s a little constitutional problem with your plan.
That’s the uniformity clause.
They are already protected, its called the state of Florida ….
While you are at it, eliminate the public sector pension guarantee.
Unfortunately, while this amendment will be much appreciated if passed, it will do little to
stem the tide of people and businesses fleeing the progressive DEMOCRAT tax and spend utopia of Illinois,
and it’s eventual and unavoidable fall into insolvency.
Feeling a bit “triggered”, Joey Blowhard ?
How sad to be you.
Retirees are already taxed on their social security proceeds, pensions if they have these, IRA withdrawals and the meager interest income on their savings accounts by the Federal IRS. Retiree homeowners already pay enormous real estate taxes, two-thirds of which pays the bloated incomes and benefits of teachers and their administrators.
IF Democrats must tax retiree pensions, SS and IRAs, then start the taxing above some threshold. For example if the total of pension/SS/IRA is above $100K for an individual, then start taxing it. Tax Rates could increase for every $50K over $100K. So, those on Illinois pensions over $200k, $300K, $400K and up would progressively be taxed higher and higher. These very rich retirees can well afford to give BACK to the State of Illinois that made them rich. Democrat Congresslady AOC from NY city would very much approve of this formula.
Democrats just ran Amazon out of NY.
Live broadcast of Dems celebrating ‘victory’ is a laugh riot.