For the Monday, Sept. 9 Legislative Committee meeting the Chamber has teamed up with Reboot Illinois for a town hall debate about an issue that affects every business, resident and taxpayer in the state – income taxes. Several plans have been introduced to amend the Illinois Constitution, to switch from a flat-tax to a progressive system where higher wage individuals pay increased tax rates. Laying out the pros, cons and facts of this important issue in the format of a town hall debate, will be two recognized experts in the field.
Reboot Illinois Executive Editor, Matt Dietrich will serve as debate moderator, between progressive tax system proponent, Ralph Martire of the Center for Tax and Budget Accountability and flat tax system proponent Ted Dabrowski, of the Illinois Policy Institute.
In 2011 elected officials enacted a temporary income tax increase, raising individual rates to 5 percent. By law, in 2015 the tax will decrease to 3.75 percent, but the financial challenges confronting Illinois that prompted the tax 66 percent tax increase - billions in unpaid bills, lengthy payment cycles and massive unfunded liabilities for public employee pensions - remain. Even with the tax increase, Illinois ended the last fiscal year with $6.1 billion in unpaid bills.
The seminal issue confronting voters ahead of the 2014 gubernatorial and Illinois House and Senate election will be how to right Illinois’ fiscal ship. In addition to voting for candidates, voters are likely to be asked to vote on a question to amend the constitution to change the tax system.
Business owners need to be aware of an amendment, which could potentially remove the “8 to 5 ratio” provision of the Illinois Constitution, which keeps proportional the corporate income tax rate, compared to the rates on individuals.
To raise awareness of this issue, the Chamber’s Sept. 9 Legislative Committee will be entirely dedicated to this debate, where a staunch proponent and opponent will debate the merits, facts, priorities and fiscal issues confronting the state.
Business professionals, elected officials, Democrats, Republicans and everyone in-between will find this debate informative, educational and helpful in setting the stage for one of the most important public policy debates of the past 40 years of the state.
The Chamber’s Legislative Committee meeting has a requested donation of $10 to offset the cost of lunch and the meeting. Advanced registration is appreciated, although not required; RSVP’s can be made by calling the Chamber at 630-355-4141 or online by clicking here.
About Reboot Illinois:
Reboot Illinois aims to encourage citizens to retake ownership of our governments. Through non-partisan digital and social media, Reboot Illinois intends to engage citizens giving them the information and tools they need to act on improving the jobs climate, schools, taxes, and state debt.
Online at: www.rebootillinois.com
About Ralph Martire & the Center for Tax and Budget Accountability: The Center for Tax and Budget Accountability is a bi-partisan 501(c)3 research and advocacy think tank that promotes fair, efficient and progressive tax, spending and economic policies. The mission of the CTBA is to identify, develop, and introduce into the public debate rigorous, non-partisan, data-driven analysis and progressive, equitable public policy recommendations that will improve the fiscal health of Illinois and other states.
Online at: www.ctbaonline.org
About Ted Dabrowski & the Illinois Policy Institute: The Illinois Policy Institute inspires changes in hearts, minds and laws through its mission to promote personal freedom and prosperity in Illinois and America. As a leading independent research and education organization, the Institute generates positive and sustainable policy solutions for citizens and lawmakers that help unleash talent and entrepreneurial ability.
Online at: www.illinoispolicy.org