At a press conference today in Springfield, State Representative Dan Ugaste (R-Geneva) and three Republican colleagues highlighted a recent report from Moody’s Analytics and the Commission on Government Forecasting and Accountability that outlined how the current economy in Illinois is stalled and high tax burdens are a main reason.
“The Moody’s Report stated what Republicans and many others have been saying for years, that Illinois is overtaxed and overregulated,” Rep. Ugaste stated. “Democrats continue to double down their same path of bad policies toward businesses, and these policies will continue to lead to closures and relocations to neighboring states.”
The Governor’s budget proposal for this year includes an increase in taxes on businesses of nearly $1 billion. The Democrats’ outrageous policies are stifling any chance of prosperity and economic growth in Illinois. Illinois House Republicans have offered numerous solutions to help lower taxes and provide relief to hard-working families and business owners.
House Bill 4866, introduced this spring by Rep. Tim Ozinga and Rep. Ugaste, offers a property tax relief plan that is projected to save Illinois taxpayers, businesses, and individuals $82 billion over the next 21 years. This plan will help lower-income communities the most, working to address Illinois’ ‘worst in the nation’ status for Economic Racial Equality as found by a WalletHub report last year.
For reference, the Moody’s Analytics/Commission on Government Forecasting and Accountability Report can be found here: Moody’s Analytics State of Illinois Forecast Report (ilga.gov)