'Fair Tax' Legislation Gaining Ground at CapitolPosted:
Springfield - Under the proposed 'fair tax' legislation, if you make more, you'll pay more, likewise, if you make less, you'll pay less.
Senate Democrat Don Harmon's proposal would have those making less than $12,500 pay a tax rate of 2.9%, those making between $12,500 to $180,000 would pay at a rate of 4.9%, those making more than $180,000 would pay at a rate of 6.9%.
For those who are concerned that this might push out business owners not wanting to pay higher taxes, senator Harmon said that this will actually benefit the state, and he feels that the people of the state should decide whether a fair tax scale is the right thing to do.
"This is good for small businesses, and it's good for the people who shop at businesses, which is good for small businesses. We either have to extend an unfair regressive flat tax, or we have to cut the most critical services the people of Illinois depend upon. All we're asking is that the voters of Illinois be entrusted with tax policy, and can help us to determine what we should be doing here in the state," Harmon said during a press conference Thursday.
In the House, speaker Madigan has proposed similar legislation.
It's currently awaiting action on the house floor.