Illinois Latino Agenda Unite to Make Personal Income Tax Rate Permanent

Lawndale News Chicago's Bilingual Newspaper - Business

By Illinois Latino Agenda

Members of the Illinois Latino Agenda, the largest Latino coalition in the state, urged Springfield lawmakers to maintain the current five percent personal income tax rate. The Latino Agenda’s analysis shows proposed cuts would force unprecedented, disastrous reduction in education and human services, affecting children and families across the state.

“Having grown by 33 percent in the last decade, Latinos are a young and fast growing population in Illinois. Our constituents contribute to the advancement of Illinois’ economy through their labor, taxes, spending power, and entrepreneurship. Yet the state budget has continually fallen short in funding programs and services at a rate necessary to keep pace with our burgeoning community.

We recognize that the fiscal crisis facing Illinois makes tax reform, including maintenance of the current personal income tax rate, necessary. We urge lawmakers to make certain that any changes in Illinois tax code promote fiscal responsibility, economic competitiveness and tax fairness. In order to achieve the latter, we support an increase in the Earned Income Tax Credit and other policies that promote progressivity within the tax code.

Finally, the State must recognize the growing economic contributions of Latinos and immigrant communities to our workforce and small business creation, and invest accordingly in fair, nondiscriminatory, equitable funding of educational opportunities for our youth as they become the future workforce. It is vital that they are equipped with the knowledge and skills necessary to maximize their contributions to the economic recovery and the entrepreneurship of the State of Illinois.”

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