ARLINGTON HEIGHTS, Ill. – Seeking to provide tax relief for middle and working class families and to stabilize Illinois’ fiscal challenges, state Rep. Mark Walker, D-Arlington Heights, has joined the fight for a fair income tax.
“Working for a fair income tax has been a major priority of mine from day one,” Walker said. “We should give residents an opportunity to vote on this proposal to move to a more fair system that will allow us to more effectively stabilize state finances, pay down old bills and allow for critical investment in infrastructure, education and other services that would contribute to a growing economy.”
In Pritzker’s recently released fair tax plan, comparable to the system the federal government uses, people who make less would pay a lower rate and people who make more pay a higher rate. Under the proposed graduated rates, taxpayers making $250,000 or less – or 95.7% of residents in Walker’s district – will pay the same rate or less and those making $1 million or more will pay a higher rate. Additionally, homeowners would get a 20% increase in the property tax credit on their income taxes, providing much needed property tax relief.
“Changing to a fair tax plan means more funding for our schools, senior health care and critical resources like domestic violence shelters, all while taking a huge step toward meeting Illinois’ fiscal responsibilities,” Walker said. “Tax relief for middle and working class families is important; so is ensuring billionaires pay their fair share. But at the end of the day, fighting for a fair tax is simply the right thing to do.”