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Saturday, May 11, 2024

Former Illinois legislator advocates ending 'endless tax hikes'

Mcsweeney

“Businesses are suffering and families are being forced out of Illinois because of endless tax hikes,” David McSweeney posted on Facebook. | davidmcsweeney.com/

“Businesses are suffering and families are being forced out of Illinois because of endless tax hikes,” David McSweeney posted on Facebook. | davidmcsweeney.com/

Former GOP state Rep. David McSweeney is looking to put an end to climbing Illinois taxes during Gov. J.B. Pritzker's tenure.

“Businesses are suffering and families are being forced out of Illinois because of endless tax hikes,” McSweeney posted on Facebook about the 24 new tax and fee increases that have been enacted in the three years that Pritzker has been in power, according to Illinois Policy.

“Illinois families need a tax cut,” added McSweeney, now Chairman of Cut Illinois Taxes Now. “I’m fighting for the tax relief that we all need.”

As it is, a new Tax Foundation report finds that Illinois is now also home to the highest wireless taxes in the country, according to The Center Square. With federal/state/local rates combined, the state charges 34.56%, well over the national average of 23.94%.

Tax Policy Senior Policy analyst Ulrik Boeson explained the gap.

"Illinois has an additional state telecommunications tax on top of the federal taxes, on top of the 911 fee," he told Center Square. "This is how Illinois gets to have such a high rate."

Illinois Policy Institute also recently alerted residents to a complicated, but common, tax: State shoppers could pay as much as six times higher taxes when purchasing certain candy for trick-or-treaters compared others. That's because in Illinois, treats prepared with flour don’t count as “candy,” meaning that Halloween favorites with flour like Kit Kats, Twizzlers and Twix are instead considered food. Candy sales across the state are taxed at 6.25%, while delectable made with flour are taxed at 1%.

Overall, sales tax in Illinois are expected to generate in the neighborhood of $7.4 billion for the state, according to Illinois Policy, the second highest revenue source for the state behind income tax. Analysts add the $5.24 billion taxpayers have paid for the new or increased taxes and fees since Pritzker took over would be $3 billion more had voters not rejected a progressive tax proposal last November.

Pritzker has couched the increases as steps toward balancing the state budget and funding a $45 billion infrastructure plan, yet the state’s latest $42.3 billion budget represents the 21st straight year Springfield has failed to pass a balanced state budget. This year’s is estimated to be underfunded by around $482 million, despite $655 million in new taxes and fees and $8.1 billion in federal aid.

The Tax Foundation reported the state had the 10th highest tax burden in the country, with over 11% of Illinoisans’ income going to state and local taxes prior to this year’s new taxes being enacted.

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