NFIB State Director Mark Grant released the following statement this morning on Amendment 1, the amendment to replace Illinois’ flat tax with a progressive state income tax:
“This is a big victory for Illinois taxpayers. We believe a progressive tax would be a financial no-win situation for small businesses.
“Our members understand that Governor Pritzker needs to address Illinois’ financial crisis, but raising taxes without making major spending reforms would have made things even worse. And unlike our current tax structure, income brackets and tax rates could have been changed by a simple majority vote any time lawmakers wanted to spend more money.
“2020 has been a challenging year for Illinois’ small businesses because of the economic losses caused by the pandemic. Switching to a progressive income tax now and allowing legislators to raise rates whenever they wanted would have just poured gasoline on the fire.”