Oct 14, 20201 min
IFT strongly supports the Fair Tax constitutional amendment on the ballot this fall. It will bring fairness to our tax system, stabilize Illinois finances, fund education and vital services, and safeguard pensions.
Opponents have been spreading lies about the Fair Tax affecting retirement income. These opponents, funded by the millionaires and billionaires who don’t want to pay their fair share, are the same people who continually attack unions and public worker pensions.
Under Illinois law, retirement income is exempt from taxation. In fact, passing the Fair Tax will help prevent any efforts to tax retirement income because the state will be able to raise much-needed revenue from those making over $250,000 a year.
This is a scare tactic and it is simply NOT TRUE. Nothing in the Fair Tax changes the tax-exempt status of retirement income.
and labor unions around the state — the same unions who fight to protect
retirement security year after year.
When you complete your ballot, whether in person or by mail, join us in voting YES for fairness.