ARLINGTON HEIGHTS, Ill. – State Rep. Mark Walker, D-Arlington Heights, is thanking residents who attended a town hall meeting Wednesday evening to discuss the Fair Tax income tax proposal.
“A Fair Tax income tax system is one of the biggest issues to come out of the General Assembly this past session,” Walker said. “It’s really important residents are aware of the facts on the Fair Tax plan, which is why I was glad to see so many attendees at our event.”
Walker was also joined by state Sen. Ann Gillespie, D-Arlington Heights, and Ralph Martire, executive director of the Center for Tax and Budget Accountability. As was explained during the town hall, a fair, or progressive, income tax system would change Illinois’ current flat rate tax system to a tiered rate structure like the tax brackets used by the federal government and 34 other states. Under the proposed plan, those making $250,000 or less will pay either the same rate or a lower rate.
“It’s been a top priority of mine to right Illinois’ fiscal ship while also providing real tax relief for those who most need it,” Walker said. “A Fair Tax system will cut taxes for 95% of residents in my district, including most of our small businesses, all while collecting an estimated $3 billion a year in new revenue that will allow us to better invest in education, infrastructure and other priorities while addressing our state’s fiscal challenges. That’s a win-win to me.”