House GOP reiterates stance against progressive tax



SPRINGFIELD-- Republicans in the General Assembly who oppose a progressive income tax say they oppose it even if the corporate income tax were abolished.
 
They frame their opposition to a progressive income tax – one that charges higher rates on higher levels of income – as such a tax being bad for business.  But take away the corporate income tax altogether, and it’s still bad, says State Sen. Matt Murphy (R-Palatine).
 
“It’s an interesting concept, because we do have one of the highest corporate taxes in the world right now.  The concern that I would have with that is the large number of small businesses that are operated by people who pay the individual rate,” he said.
 
The corporate income tax rate is 7 percent, though businesses pay another income-based tax that adds up to 9.5.
 
A progressive income tax is being discussed in Springfield.  It would require a constitutional amendment.

 Follow 
Share