Illinois Wants More Power to Tax Senior’s Retirement Incomes!

The progressive tax constitutional amendment deletes two key protections against retirement taxes; the flat tax requirement and the “no more than one such (income) tax” provision.

Illinois’ flat tax makes it politically hard for politicians to tax retirement income because they would have to immediately tax it at the full 4.95% rate, risking the ire of senior voters.

The “no more than one such (income) tax” provision in the Constitution prevents legislators from creating a separate retirement income tax with separate rates.

• Governor JB Pritzker’s State Revenue Director, David Harris, has twice proposed a retirement tax which would impact middle-class retirees and collect over $1 billion per year in new taxes.
• Illinois State Treasurer Michael Frerichs has made it clear a retirement tax should be considered if the amendment passes, “One thing progressive tax would do is make clear you can have graduated rates when you are taxing retirement income.
• Former Chicago Mayor Rahm Emanuel proposed a retirement tax tax to address city and state pension woes.

Illinois seniors concerned about retirement taxes should vote no on the progressive tax constitutional amendment.

If you agree, add your name to the list of Illinoisans who oppose the progressive income tax!