MORE TAXES COME ON DEMOCRATS AND CHANGE THEM ON TOP OF THAT?

July 22, 2013 § Leave a comment

Democrats’ tax plan could set stage for 2014 battle

The Dome 6
Members of the House of Representatives work toward adjournment while on the House floor during session at the Illinois State Capitol Thursday, May 30, 2013, in Springfield, Ill. Illinois lawmakers scramble to finish up business in their spring session with votes to legalize gay marriage and regulate hydraulic fracturing for oil and gas predicted, but uncertain. (AP Photo/Seth Perlman)

Democrats have tried in the past to change Illinois’ tax structure but the efforts didn’t get off the ground, in part because they didn’t have the supermajorities they do now. The scheduled roll back of the temporary tax increase — which would reduce revenue by about $7 billion — also is adding urgency to the effort, lawmakers say.

Supporters say they’re hoping the legislature, where Democrats hold big majorities in both chambers, will do its part by early May, the deadline to get the question on the November 2014 ballot. That would allow voters to decide prior to Jan. 1, 2015, when the temporary income tax is scheduled to begin being phased out.

Democrats say their proposal would be similar to one advocated by the Chicago-based Center for Tax and Budget Accountability, which describes itself as a bipartisan think tank.

Ralph Martire, the group’s executive director, says the graduated tax provides a more stable revenue stream because it collects more money from places where wealth has grown the most in recent decades — among the most affluent. His proposal would bring in about $2.4 billion more in revenue per year than the state is taking in under the current 5 percent individual income tax rate. That increase would come from taxpayers making $150,000 or more per year, which he says is about 6 percent of Illinois filers.

The House measure is co-sponsored by Rep. Barbara Flynn Currie, the majority leader and a close ally of Speaker Michael Madigan. Sen. Don Harmon, an Oak Park Democrat and chairman of the powerful Senate Executive Committee, is sponsoring the resolution in the Senate.

Though Democrats have more than a three-fifths majority in both chambers, Harmon thinks “it will be very difficult to do.”

A graduated tax “makes sense, but it’s an attempt to change the status quo and that’s always difficult,” he said.

Both sides already are gearing up. Advocates have formed a coalition known as “A Better Illinois,” which they say is made up of more than 60 organizations and hundreds of thousands individuals. The campaign’s formal launch is scheduled for August, but supporters began circulating petitions and encouraging voters to contact their legislators earlier this month.

On the other side, McSweeney has lined up co-sponsors for a measure opposing the constitutional amendment. He said last week he believes he has enough support from Republicans and at least one Democrat to stop the graduated tax from making the ballot. But he said he’s trying to persuade more Democrats — particularly those who are more fiscally conservative — to join in the opposition.
In a statement released last month, Republican leaders Sen. Christine Radogno of Lemont and Rep. Tom Cross of Oswego said their caucus is united against it.

“Taxpayers should be wary,” Radogno said. “This isn’t about fairness. It’s about increasing revenue to fuel even more spending.

Read more: http://www.sj-r.com/top-stories/x1806127006/Democrats-tax-plan-could-set-stage-for-2014-battle#ixzz2ZmGpoSlu

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