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Dear Friend,
Despite a 67% Income Tax increase passed by the legislature in January, Illinois continues to overspend and accumulate deficits. The Income Tax increase bill also included a huge Corporate Tax increase. When I voted against the enormous tax increase bill, I stated that it was the “nuclear bomb of job bills.” Illinois now has the third highest corporate tax structure in the United States.
More taxes are not the solution. If the state does not control spending Illinois will have a deficit of more than $22 Billion when - and if - the temporary portion of the tax hike expires in five years. That is nearly four times what the deficit was at the end of Fiscal Year 2010 - BEFORE the tax increase. If we continue on this path, in 2016 the state will be faced with even higher tax increases and even deeper spending cuts. It’s a cycle that simply cannot be sustained.
We need to begin bipartisan discussions to tackle our spending problem. I recently joined with other like-minded legislators to lay out some options and encourage all parties to come to the table to work on real solutions.
To help guide me in these discussions, I am asking you to take a few minutes to fill out this survey. I’m asking for your name and contact information so that I can keep you informed as we move through the coming months.
Sincerely,
Dan Duffy
State Senator
26th District
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