Madison Dearborn Partners co-founder and Chairman John Canning published an article on Crain’s Chicago Business criticizing Gov. J.B. Pritzker’s dishonesty with his state income tax plan and provided three main solutions for Pritzker to fix Illinois most challenging community problems.
“Illinois’ political leaders are talking a lot about fairness this year,” Canning said in his article. “That’s how Gov. J.B. Pritzker has branded his plan to pass a progressive income tax hike in Illinois, after all. But you can’t have fairness without honesty … unfortunately, Illinois lawmakers are not being honest with their constituents about what a progressive income tax constitutional amendment really means.”
Canning writes as his three-step solution is for Pritzker to be honest with the actual impact of the “fair tax,” the failures of the larger preceding tax hikes and with constituents about the lack of any actual reform occurring.
Although Pritzker originally stated that the $3.4 billion progressive income tax hike that was introduced is enough to fun the $1.3 billion structural deficit, pay for a $6.7 billion annual new state education formula and reduce Illinois’ pension liability, Canning argues the tax hike covers only four months out of a year’s pension payment. Canning believes the money would all be spent before Pritzker’s promises are made.
“It’s little more than a payday loan,” Canning said. “Except Illinoisans won’t get their money back.”
FULL STORY HERE: https://prairiestatewire.com/stories/512872597-madison-dearborn-s-canning-accuses-pritzker-of-dishonesty
