Why We Need Adequate Revenue and a Fair Tax
What is the Fair Tax amendment?
The Fair Tax constitutional amendment changes the state constitution to eliminate the requirement that Illinois tax income at a single rate, allowing instead for higher rates for higher incomes and lower rates for people with low and moderate incomes.
Why do we need Fair Tax reform?
The old way of taxing income in Illinois is unfair and inadequate.
The old way is unfair because taxes fall too heavily on the middle class and those struggling to get there. Low-income households now pay almost double what the most affluent pay in taxes as a share of their income! That’s wrong.
The old way is inadequate because it doesn’t raise enough revenue. That causes recurring budget deficits at every level of government (state, counties, cities, universities, school districts), pushing up property taxes and forcing harmful cuts to education, human services, health care, infrastructure, public safety and jobs.
How do we win the Fair Tax for Illinois?
We win the Fair Tax by voting Yes on the constitutional amendment on our ballots at the statewide general election in November 2020. A ‘yes’ vote of more than 50% of those voting in the election or more than 60% of those voting on the question is required.
What does the Fair Tax amendment mean for me?
Fair Tax reform will lift the burden from the middle class and those struggling to get there: 97% of taxpayers will get a tax cut or pay no more than they do now.
Fair Tax reform will raise more than $3 billion a year that can help to fund state and local government, schools and human services, and responsibly pay the state’s bills.
Fair Tax reform will require wealthy people to pay their fair share, only increasing taxes on the top 3% (those who make more than a quarter-million dollars a year). The vast majority of the increases will be paid by millionaires.