Watchdog Group Suggests Taxing Retirement Income

Feb 12, 2018

Governor Bruce Rauner will deliver his state budget address Wednesday, Feb. 14th at noon. WCBU will have live coverage and analysis at 89.9 FM, or online at http://peoriapublicradio.org
Credit Gov. Bruce Rauner / Facebook

Governor Bruce Rauner is set to propose his state budget plan this week. It comes as a watchdog group suggests the state’s finances are so bad, Illinois should start taxing retirement income. Taxing retirement income is an age-old debate in Illinois that has a lot of political pitfalls. But Laurence Msall with the Civic Federation, a group that monitors the state’s budget, says the 2-year-long budget impasse did so much long-term damage that everyone will now have to make some sacrifices.

 

"We simply can’t target people behind the tree to pay our taxes and our obligation and be serious about stabilizing the state’s finances." Msall said.

Rauner has said more jobs, and people, would move to the state with a lower income tax and fewer regulations.

Story Source: WBEZ