With Tax Day Approaching, Illinoisans Demand Revenue from Corporations, the Rich

For Immediate Release – Tuesday, April 12, 2016

Contact:
Springfield Press – Brandon Hudspeth, 217-638-4606, b.hudspeth0702@gmail.com
Chicago Press – Kristi Sanford, 773-456-4024, kristi@iiron.org

With Tax Day Around the Corner, Illinoisans Demand Budget that Raises Revenue from Corporations and the Rich

Springfield, Illinois — With Governor Rauner and legislators unwilling to propose and debate a budget that requires corporations and wealthy people to pay their fair share, Fair Economy Illinois members will travel to Springfield on Wednesday, April 13, 2016 to put forth a “People and Planet First Budget.”

“We pay our fair share of taxes, and we value the public education, infrastructure, social safety net and other public goods our taxes make possible,” said Toby Chow, a leader with Fair Economy Illinois. “But in order to maintain low tax rates for corporations and the rich, our elected officials have, for several decades, used revenue that should have been invested in public pensions to cover the costs of Illinois’ most basic obligations. That unsustainable choice has finally reached a crisis point. The only moral and sustainable action our elected officials can take is to raise revenue by closing corporate tax loopholes and increasing the tax rate paid by our wealthiest residents.”

The People and Planet First Budget would raise an additional $23 billion per year in revenue from three main actions:

  1. Closing Corporate Tax Loopholes ($2.5 billion)
  2. Enacting a Graduated Income Tax ($9 billion)
  3. Passing the LaSalle Street Tax ($12 billion)

The People and Planet First Budget would invest an additional $23 billion annually to:

  • Fully fund pre-K through 12 education ($5 billion)
  • Provide universal healthcare ($4.5 billion)
  • Convert to all green energy over the next 30 years ($3.5 billion)
  • Fully fund human services ($3 billion)
  • Repair our infrastructure ($3 billion)
  • Provide free higher education at Illinois’ community colleges and state universities ($2.5 billion)
  • Increase pension investment ($2 billion)

These investments would create tens of thousands of jobs and improve both the overall economy and the quality of life for all Illinois residents. Click here to view additional details about the People and Planet First Budget.

“Today we’re asking our elected officials ‘Which side are you on?’,” said Tom Cullen, a leader with Fair Economy Illinois. “Illinois’ tax system is already deeply regressive, and it’s plain as day that elected officials can’t raise enough revenue from working and middle class people to fund even our state’s most basic responsibilities. We oppose any budget deal between Rauner and Madigan that raises revenue from working people, rather than from corporations and the rich, or makes budget cuts.”

Fair Economy Illinois is a statewide alliance that organizes urban, suburban and rural residents around issues that affect the common good. Since May 2015, Fair Economy Illinois has led Chicago’s Moral Mondays demonstrations, a series of direct actions and civil disobediences targeting wealthy donors to Governor Rauner’s political campaign and political action committee who support his devastating “Turnaround Agenda”.  Visit Moral Mondays Illinois on Facebook and search #MoralMondaysIL on Twitter for more information.
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