McConchie, Georges differ on proposals for progressive income tax
Talk about moving from a flat to a graduated income tax rate in Illinois has Republican state Sen. Dan McConchie and his Democratic challenger on different sides of the issue.
McConchie, a Hawthorn Woods resident, will face first-time candidate Tom Georges of Mundelein for the 26th Senate District seat in the Nov. 6 election. The district is centered in the Barrington area and includes portions of central and southwest Lake County, plus parts of northwest Cook County, northeast Kane County and southeast McHenry County.
Georges and McConchie addressed issues facing the state in a Daily Herald Editorial Board joint interview and in candidate questionnaires. One was the possibility of Illinois shifting from the flat income tax rate to one that's progressive.
Under a graduated tax system, wealthier residents are supposed to pay more on their earnings than those of lesser means. The idea is endorsed by Democratic gubernatorial candidate J.B. Pritzker, but opposed by Republican Gov. Bruce Rauner, who contends it would lead to a massive tax hike for everyone.
Georges, a small-business owner who manages real estate investments and serves on the Mundelein planning and zoning commission, said the progressive income tax makes sense. Such a taxation system is used by a majority of states with income taxes, he said.
"I would support a bipartisan approach for qualifiers and brackets, which would be equal to the income tax brackets currently in place for 95 percent of all people," Georges said. "The progressive tax structure would only affect the top 5 percent of Illinois income earners."
McConchie said he's against shifting from a flat to a progressive income tax.
"A graduated income tax would likely result in a significant tax increase for the middle class," he said. "The only proposals I've seen introduced include tax rates that would result in a huge income tax increase across most income brackets."
In 2016, McConchie won a three-way Republican primary and then was appointed to fill the remainder of state Sen. Dan Duffy's seat after he retired early. McConchie coasted to victory over Barrington Hills Democrat Kelly Mazeski in the general election.
Campaign financial disclosure documents filed with the Illinois State Board of Elections show McConchie with much more money than Georges.
McConchie had $125,168 in available funds at the end of the most recent quarterly reporting period Sept. 30. Since then, he's reported at least $16,700 in additional contributions.
Georges reported $5,322 in available campaign funds for the period that ended Sept. 30. He has reported at least $3,500 in donations since the last filing period concluded.