Yesterday, Governor Rauner said he was “applauding Congress” for tackling tax reform, which could potentially give Gov. Rauner HUGE kickbacks off his tax bill. But beyond the fact that Rauner is “applauding” tax breaks for the wealthy, the Senate tax bill as written could cost Illinois thousands of jobs.
By eliminating the state and local tax (SALT) deduction, the Senate bill could demolish public schools in Illinois. New data shows that this bill puts over $1.6 billion dollars in annual state revenue for public schools at risk, totalling $802 per student and endangering the jobs of 9,309 teachers. Further, the Senate bill would jeopardize donations to nonprofits, putting at risk $429 million in donations to 61,653 nonprofits in Illinois that could hurt over half a million (549,092) Illinois employees.
Given that Rauner has claimed he’s talked to Congress about the bill and asked to include abankruptcy-style restructure of Illinois’ pension debt, we’re not entirely surprised he’s rooting for a bill that would leave so many Illinois workers in the dust.
American Bridge spokesperson Lizzy Price made the following comment:
“Rauner has applauded a bill that gives the wealthy huge tax breaks at the expense of Illinois public schools, public employees and thousands of jobs. Rauner isn’t looking out for what is best for the future of Illinois–he’s looking out for himself.”