McCarter call budget a 'stick in the eyes of taxpayers'
Sen. Kyle McCarter (R-Lebanon) lamented the recently passed budget, which includes a permanent tax hike and was passed with an override of Gov. Bruce Rauner’s veto.
“I have been warning for months that Springfield was preparing to impose another burdensome tax increase on you and your families and on the state’s job creators. Unfortunately, my prediction turned out to be true,” McCarter said in a post on his website. “Get ready to pay more.”
McCarter noted that the budget that has passed will increase the personal income tax rate to 4.95 percent and the corporate income tax rate to 7 percent. He criticized the budget plan for putting the permanent increase in place without addressing the state’s pension shortfall or its backlog of bills.
“Time will only tell who gives up on Illinois this time and who decides to stick it out. If history is any indication, many will leave – if they can – for less punishing government in other states,” McCarter said in the posting. “…I find it discouraging that a majority of Senate and House legislators decided to repeat the mistakes of the past. Their votes passing a bloated budget and the largest, permanent income tax rate hike in Illinois history are a stick in the eyes of taxpayers today and a substantial liability on future generations.”