State Sen. Kyle McCarter said that the “Grand Bargain” being deliberated in the state senate is “no bargain for taxpayers.”
According to him, the additional tax burden added with the bill package outweighs some of the economic reforms that Republicans have been pushing for. Additionally, he said that many of the reforms, while a step in the right direction, don’t go far enough . “The bills are there in name,” McCarter said on Thursday. Some of the items introduced include a two-year property tax freeze bill and a township consolidation bill. “Unfortunately, those don’t make up for this huge tax increase,” McCarter continued.
The tax increase would raise Illinoisan’s income tax up from 3.75% to 4.99% and would impose additional taxes on businesses. McCarter said that it’s too much. “What we’ve got right now is a state government that is just way too un-affordable for the people of Illinois,” he stated.
McCarter said that the state needs to learn from the lessons of the past. A temporary income tax increase was implemented in 2011 that McCarter said contributed to working-residents to leave the state. He said that the proposed bill package will have a similar effect.
The Senate is adjourned, but will return in February and will likely vote on the bill package.
You can listen to a full interview with Sen. McCarter here!