The Illinois Democrat election wins and domination in Springfield seem to presuppose the passage of Illinois HB 750. The teachers unions have made it quite clear what they expect for their massive contributions to candidates.
The HB 750 "tax swap" to reform education funding has been in the works for nearly two years. The idea is to reduce dependence on property taxes for education. That sounds like a reasonable plan until you examine what they really mean by this. Hint: all education money will go first to Springfield and then to the schools; no more local referendums - no more local control, and no guarantee that local property taxes won't go right back up to previous levels.
This is simply a tax increase, and a move to put education funding into Springfield where it can be controlled by Big Education and the unions.
Income taxes are to go up by 2% and business income taxes by 4%. There will be a 6% sales tax on "services". There is to be a tax abatement to reduce the portion of property taxes going for education, subject, of course to interpretation in Springfield. However, there is really no guarantee that this money will find it's way back to property tax payers and indeed, without being cynical, we wouldn't be surprised to hear an announcement down the road that this money is needed to make up short falls in the teachers' pension funding.
The estimated increase in taxes will be $7.2 billion; the estimated property tax reduction will be $2.5 billion; as if we don't have enough problems with the business climate and job creation here in Illinois!
HB 750 sounds good if you listen to education, Springfield, the media, and the unions; not so hot if you examine the real bill. Unfortunately, there is no real clout lined up to oppose this assault on tax payers.
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