Kane County Reporter

State Representative Dan Ugaste (R-Geneva) and his Republican colleagues held a press conference in Springfield to address the stifling effect of high taxes on the economy in Illinois. Ugaste highlighted a recent report from Moody’s Analytics and the Commission on Government Forecasting and Accountability, stating, “The Moody’s Report stated what Republicans and many others have been saying for years, that Illinois is overtaxed and overregulated.”

According to the report, the current economic situation in Illinois is stagnant, with high tax burdens being a significant contributing factor. Ugaste criticized the Governor's budget proposal, which includes a substantial increase in taxes on businesses, saying, “Democrats continue to double down their same path of bad policies toward businesses, and these policies will continue to lead to closures and relocations to neighboring states.”

In response to the challenges posed by high taxes, Illinois House Republicans have put forward solutions aimed at providing relief to taxpayers and business owners. House Bill 4866, introduced by Rep. Tim Ozinga and Rep. Ugaste, offers a property tax relief plan projected to save taxpayers, businesses, and individuals $82 billion over the next 21 years. Ugaste emphasized that this plan will particularly benefit lower-income communities, addressing Illinois’ concerning status for Economic Racial Equality.

The Republicans' efforts to lower taxes and stimulate economic growth in Illinois stand in contrast to what they perceive as the Democrats' obstructive policies. The Moody’s Analytics/Commission on Government Forecasting and Accountability Report referenced by Ugaste can be accessed through the link provided.