CHICAGO (WBBM NEWSRADIO) — Advocates for social programs have come out with a new report that found Illinois’ poorer residents are paying more than their fair share in taxes — and they've proposed changes that would generate over $1 billion for the state government.
A coalition of community groups, social service organizations and labor unions brought a new report, titled “Funding our Futures,” to the corner of Clark and Randolph Streets near the Thompson Center, where heavy renovations were underway for a move in by Google.
This report aims to raise $1.5 billion in revenue by imposing a stiffer tax on the wealthy and by closing tax loopholes for major corporations.
WBBM spoke with Greg Will, with SEIU Healthcare Illinois-Indiana, who co-authored the report.
“The report starts with a major, national, 50-state analysis from Institute on Taxation and Economic Policy … that showed that our state tax system is one of the most inequitable in the nation, most inequitable in the Midwest in terms of the poor paying more,” he said.
Will said the $1.5 billion could fund things like programs for senior care, affordable housing, and K-12 education. He said the “Funding our Future” report identified policies that the state of Illinois could move on right away.
He was also asked if considered how it might impact business attraction or retention in the state.
“There’s always going to be a, ‘Well, I’ll just move out,’” Will said. “We don’t see that happen. I’ve thought about it carefully, looked at what has happened in states that have made similar moves to make their tax system more fair and believe that what we’re talking about is an economic environment that’s good for … all of Illinois.”
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