As you’re no doubt aware, there’s a Democratic bill floating around the General Assembly to set tax rates should the state adopt a graduated income tax.
Supporters said it would actually give a tax cut to 99 percent of Illinois taxpayers and increase taxes only on the very wealthy. […]
A number of objections were raised to the idea of a graduated income tax and to the Democratic proposal in particular, including this one raised by a couple of Republicans: The bill would raise $1.9 billion in new revenue, but the state’s budget deficit is many billions of dollars more than that. So the bill didn’t solve the state’s financial problems.
That’s true. It’s also true that a constant Republican theme for months has been that the Democrats are trying to maneuver the state into a massive tax increase. To then argue a revenue bill is flawed because it doesn’t raise enough money is a good one.