The President and CEO of the Illinois Chamber of Commerce, Todd Maisch, came to Effingham on Friday. We spoke with Maisch regarding the Illinois budget, tax increase, Governor Rauner’s amendatory veto, businesses leaving Illinois, and a service tax.
Maisch addressed the recent tax increase imposed by lawmakers in Springfield. According to Maisch, Illinois residents have seen an increase in their individual tax rate from 4.75% to 4.95%. While this tax increase brings revenue to Illinois, Maisch states that the problems lay in the fact that Illinois is still without a balanced budget and no plan to fund education. He stated that if Illinois doesn’t work on growing economically and restrain state spending that we are on a trajectory for needing another tax increase in the next 2-3 years. With no plan in place currently for education funding, we asked Maisch if he believes that the changes made to the SB 1 by Governor Rauner with his recent amendatory veto were the right changes to make.
Additionally, Maisch stated that the state needs pension reform, job creation, and economic growth to businesses back to Illinois. He said that hes heard from business owners to even middle managers that they are looking into leaving the state.
Listen below for our full interview with Todd Maisch.