Bill Ward, Executive Vice President, HBAI
It’s almost here, the Capital City Century Ride is this Sunday and I need your pledge now for HomePAC. Please pledge $1 or more for every mile I ride in one day on behalf of the only Political Action Committee dedicated to the maintenance and enhancement of the home building and remodeling industries, HomePAC.
What’s on the line in this election is Article IX, Section 3, Paragraph (a) of the Constitution of the State of Illinois, which states:
“A tax on or measured by income shall be at a non-graduated rate. At any one time there may be no more than one such tax imposed by the State for State purposes on individuals and one such tax so imposed on corporations. In any such tax imposed upon corporations the rate shall not exceed the rate imposed on individuals by more than a ratio of 8 to 5.”
Next year, everyone knows there will be a constitutional amendment offered in the Illinois General Assembly that will delete “non-graduated rate” with graduated rates. But did you know too, that there will likely be in that same proposal, language to de-couple the individual income tax rate from the corporate income tax rate?
What the graduated rates will be is anyone’s guess: lower for some, higher for others. But where the corporate income rate lands will be anywhere but down; and that is for certain.
Now, let’s throw in some other whoppers like taxing our automobile travel by the mile, and service taxes on home repair and remodeling. And, last but not least, a 1% tax on the assessed value of your real estate for the purpose of paying down our state’s pension debt.
Are you willing to wager $100 to help fight these outrageous proposals or do you want to sit by and hope for the best?
Put your money where your life is, make a pledge today to HomePAC for $1 or more for the Century Ride Pledge Drive. It’s the best contribution you can make that can help your business stay alive in Illinois.