Hynes Announces for Governor, Proposes Progressive Income Tax
Illinois Comptroller Dan Hynes formally announced his campaign for governor Wednesdayby saying he would try to raise state income taxes on the wealthy as a way to address the state's budget crisis.
Hynes will probably face incumbent Gov. Pat Quinn in next year's Democratic primary.
At a news conference in Chicago, Hynes described a new progressive tax --- which taxes higher-income earners at higher rates --- as the cornerstone of his plan to put the state's financial house in order. He said his plan would spare 97 percent of Illinois residents from paying more.
Hynes contrasted his call for a progressive tax with proposals this year from Quinn to raise the existing flat-income tax rate by 50 percent on everyone. Only a few states use a flat income tax, which taxes everyone at the same rate.
But Quinn says a progressive tax is the kind of thing he pushed for five years ago but that Hynes then opposed. And Quinn characterized Hynes as a professional naysayer who's refused to work with him on anything.
Quinn didn't directly say he wants a progressive tax. But he did say he believes taxes should be paid according to one's ability to pay.
Quinn's original tax hike proposal in March included a tripling of the personal tax exemption, which he said would actually lower state income tax payments for about half of Illinois taxpayers.