Ben Szalinski of the Illinois Policy Institute wrote an article entiteld “Three Members of ‘Team Pritziker” Have Backed Retirement Tax” at https://www.illinoispolicy.org/three-members-of-team-pritzker-have-backed-retirement-tax/.
In this article, we learn that Ralph Martire, the executive director at the Center for Tax and Budget Accountability (CTBA), supports a retirement tax. Martire was a member of the governor’s transition team. Furthermore, state Treasurer Mike Frerichs and Illinois Department of Revenue Director David Harris have also stated that they agree to this retirement tax.
All of the aforementioned have stated in the past that they do not wish to tax seniors in the progressive income tax amendment. However, Mr. Szalinski points out that, “In 2019, the CTBA said Illinois loses $2 billion in revenue without a retirement tax and proposed taxing retirement income over $50,000.”
A 2019 poll found that 73% of Illinois residents were against a retirement tax, and many have stated that they would move out of the state should a tax be imposed.
You can create the entire story on the Illinois Policy Institute’s website by clicking the link below.
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