Southern Illinois had its Independence Day celebration at least partly ruined by news out of Springfield that legislators had approved another tax hike to support a new budget, state Sen. Dale Fowler (R-Harrisburg) suggested on his website recently.
“Southern Illinois can’t afford another tax increase,” Fowler posted. “Our region is already suffering from an exodus of residents to Indiana, Kentucky or Missouri or other points across the nation. I made a promise to my constituents that I would oppose tax increases if they were not coupled with reforms to make Illinois more competitive.”
Fowler also declared that supporting the added tax burden without any guarantee that the revenue will be funneled directly to the state’s $14.7 billion deficit is “irresponsible.”
Sen. Dale Fowler (R-Harrisburg)
The 32 percent tax increase hits individuals, who will now pay 4.95 percent in personal income taxes instead of 3.75 percent, and corporations, who will pay 7 percent instead of 5.25 percent percent. The increase is expected to generate $5 billion more in revenue per year. The budget does not include any real estate tax or workers' compensation reforms.
“It is a shame that the legislative majorities backed away from any meaningful reforms and decided to instead proceed with a tax package which endangers our already fragile Illinois economy,” Fowler posted.
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