This morning, an Illinois House committee signed off on legislation from House Speaker Madigan that will create a ‘Millionaires Tax’ in the State of Illinois.

The Illinois Opportunity Project would like to thank the hardworking advocates, taxpayers and Republican legislators who defeated this measure when it was presented back in 2014.

In 2011, Madigan and the Democrats in Springfield raised taxes, promised the tax increase would be temporary, and promised that it would help pay off an $8 billion backlog of unpaid bills. Yet Illinois still has a $6 billion backlog of bills, the worst credit rating in the nation and the highest unemployment rate in the Midwest.

It is wrong to ask the hardworking families of Illinois to continue bailing out Springfield’s wasteful spending and continued mismanagement. We oppose this measure and will work to see it defeated – just as we did in 2014.

What Springfield lawmakers supporting this measure don’t realize is that assets and capital are mobile. Those targeted by this legislation are small businesses and taxpayers who will be incentivized to pull up stakes and park their future investments elsewhere.

We will be watching this bill move through the General Assembly. Furthermore, we encourage legislators to stand by the fiscal reform agenda presented by Governor Rauner and defeat this harmful piece of legislation.

Opposition to this legislation is critical as we decide who to support in the 2016 primary and general elections.

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