In an effort to keep our business community up-to-date on relevant legislation, we would like to draw your attention to the following update from the Illinois Chamber. Please take a moment to read this and contact your representative today.
The November Advisory Referendums are a Jobs Killing Agenda
This November voters will be asked to weigh in on a number of advisory referendums that will harm Illinois' economy and kill jobs. Voters will be asked whether or not they support increasing Illinois' minimum wage to over $10 an hour and if there should be a 3% income tax surcharge on small businesses owners to fund more government spending.
The Illinois Chamber was successful at defeating legislative enactment of the proposals while they were being debating in the General Assembly last spring and we will continue to oppose the ballot measures throughout the fall election campaign.
If successfully passed, Illinois could be on track to have one of the highest minimum wages and one of the highest income tax rates in the nation. A true jobs killing agenda!
Illinois' economy is still recovering from the Great Recession and continues to lag behind other states when rated on measures that promote a friendly climate for businesses. A hike in the minimum wage would increase labor costs for many small businesses by over 21% and would result in employee layoffs or reduced hours.
The 3% income tax surcharge dramatically increases individual tax rates on small business owners and decreases the amount of resources available to reinvest in the business and create jobs. It also acts as a disincentive to work hard, grow a business and become successful.
According to a recent report, 61% of Illinois small businesses are organized in ways where the tax code treats the income of the business as the income of the owners and would make them subject to the new tax.
While the advisory referendums are non-binding in such that they will not automatically become law if they receive a majority of the votes, it will give increased political cover for legislators to approve a minimum wage and tax hike in the next legislative session.
What you can do to Help Defeat the Jobs Killing AgendaWe have launched a new and improved website dedicated to organizing an online grassroots coalition to defeat these referendums and as a resource for Illinois employers, employees, local chambers, and the general public to use to learn more about the upcoming November election.
Click HERE to view the newly launched website. Illinois legislators need to hear from local chambers of commerce, small business owners, and individuals who care about our economy. They need to know that Illinois' economy cannot afford this jobs killing agenda!
Click HERE to Sign the Petition Today and Join the Grassroots Coalition Opposing the Jobs Killing Agenda this November!
