Plan fair, funds needed
The League of Women Voters of the Palatine Area supports the graduated Fair Tax Amendment, which will be on the November 3 ballot. This will change the state income tax rate from a flat to a graduated rate like 32 other states have. The General Assembly has passed a law that sets what the new tax rates will be if the amendment passes. Individuals making less than $250,000 and business owners with adjusted profits less than $250,000 will not pay more. Those fortunate to be making more will be taxed at a lower rate than high earners in many other states.
Additional revenues of approximately $3 billion will be raised. These needed funds will prevent drastic cuts in current services to our education, health care, and public safety systems. Some of the additional revenues will pay past due bills, and some will go toward current obligations to creditors.
Local governments receive a portion of state income taxes to help pay for fire departments, sewers, and garbage pickup. State government provides services such as roads, education, health care, and public safety. Now, with the devastating effects of COVID-19, we urgently need to fund these essential services without having to raise taxes on everyone, whether low, middle, or high income, the way our current flat tax system requires. The graduated tax amendment will provide a better, more effective way to raise the needed funds without further burdening those harmed by the crisis.
Whether or not this amendment passes, Illinois will still need billions of dollars to provide education, health care and public safety. But with the graduated rate, taxes will not be raised on 97% of taxpayers.
Vote yes for the graduated Fair Tax.
Ann Kennedy, Vicki Martin
League of Women Voters of the Palatine Area