- July 27, 2021
- Posted by: Stratford Team
- Category: Business
Illinois, like the nation as a whole, is seeing its economy rebound as the pandemic comes to an end. However, massive tax increases proposed by the Biden administration on top of the unnecessary tax increases on employers passed by the Illinois General Assembly and signed by the governor in 2021 threaten to derail the recovery, hurting Illinois job creators and families.
The president’s recent budget proposal includes $3.6 trillion in tax hikes. The administration claims that the tax increases will hit only big corporations and the rich, but the truth is, it is impossible to raise taxes on big corporations without impacting small businesses and families. Higher taxes are passed on, job creation slows, or innovation gets stifled.
Take the proposal to raise the corporate tax rate from 21% to 28%, which the administration wants you to believe will affect only “big business.” The reality is that it would hurt businesses of all sizes, their…
