SE Illinois News

Republican state House candidate David Friess fears Gov. J.B. Pritzker is nearing the point of no return with his progressive income tax agenda.

“The progressive tax the governor is promoting is going to kill small business and the state as a whole,” Friess told the SE Illinois News. “Small businesses are the lifeblood of every small community in the state and the state as a whole. The progressive tax is going to put every small business at a competitive disadvantage. Moreover, there is a high probability the progressive tax will drive more citizens out of Illinois.”

A new Illinois Policy Institute analysis projects that small businesses across the state soon could be forced to pay as much as a 50.3% marginal income tax rate should the tax appearing on the Nov. 3 ballot in the form of a referendum question garner the support it needs for passage. Ignoring growing warnings from many that the tax stands to handcuff small business owners even more, the governor continues to push his signature proposal as one that will only mean higher tax rates for the state’s most affluent residents.

At around 60% of net job creation, small business owners currently rank as the state’s biggest job creators. But those numbers could soon be on the decline, with researchers finding an increase in the top marginal tax rate could mean a slide in the hiring practices of entrepreneurs and slumping earnings for workers.

“Pritzker and the Democrats are only looking at the bottom line of the progressive tax; however, they fail to take into consideration that taxpayers and owners of small businesses have options. Illinois has been depopulating for years, and the progressive tax is going to exacerbate this problem.”

Friess, who is running against incumbent state Rep. Nathan Reitz (D-Steeleville) in the 116th District, laments things don’t have to be that way.

“The better way for lawmakers to work to help the state rebound would be to hold the line on taxes and work on getting spending under control,” he said. “I don't expect the progressive tax to do what it is being sold as by the governor. The progressive tax may raise income tax on the wealthy, but the wealthy are better situated and have the financial means to relocate their wealth and their small business to another state.”