State Rep. Jeanne Ives (R-Wheaton) is pointing to a recent Wall Street Journal article that Gov. Bruce Rauner's betrayal of taxpayers on fiscal issues.
The "Illinois Drives People Away" themed article highlights Fitch Ratings' findings that the state’s unfunded pension liabilities now stand at 22.8 percent.
“In 2014, Gov. Rauner ran on a reform agenda that would grow Illinois’ economy,” Ives, who is challenging Rauner in the 2018 Republican primary, said in a press release. “The report in the Wall Street Journal, one of the most reputable and well-respected newspapers in the nation, dramatically highlights Benedict Rauner’s betrayals on his fiscal promises.”
While Rauner touted himself as a “career business builder” during his 2014 campaign against Pat Quinn, Ives points out that the Wall Street Journal article concluded that Illinois has lost a record $4.75 billion in adjusted gross income to other states in 2015 alone, with millennials accounting for more than a third of net outflow.
‘While Florida, with zero income tax, was the top destination for Illinois expatriates, the Illinois Policy Institute notes that Illinois lost income and people on net to all of its neighbors – Wisconsin (6,000 people based on claimed exemptions), Indiana (8,200), Iowa (1,900), Missouri (2,000) and Kentucky (1,100),” Ives added in the release.
Ives added the report shows Rauner has also fell short on promises he made about rolling back the income tax rate and lowering property taxes.
According to Ives, in a number of ads at the time, Rauner proposed enacting a freeze on local property taxes that would not be removable without voter approval. Ives added the reality is that property taxes in Cook County and Chicago collar counties now stand as the highest in the country, short of California and the Northeast.
Back in 2014, Ives said Rauner also vowed to replace traditional pensions for public workers with 401(k)-style retirement plans. She highlights that the Wall Street Journal article now concludes “taxes may increase as Democrats scrounge for cash to pay for pensions.”
Alerts Sign-up