Civic Federation recommends taxing services, retirement to stabilize state
"However, our elected officials again relied on shaky financial practices for short-term relief, such as counting on dubious one-time revenues and repeatedly kicking the pension can down the road," said Federation president
Other recommendations will be more difficult, Msall acknowledged. The organization said the state should impose the income tax on the same retirement income that is taxed at the federal level. For example, there is a federal income tax on 401(k) distributions, but
Also, the report calls for a constitutional amendment to be placed on the ballot "to clarify the pension protection clause." That clause prevents lawmakers from enacting cuts to pensions of current public employees.
The report recommends extending the sales tax to 14 services that are also taxed in
The federation also is calling for a new capital construction bill that would be financed by an increase in the gasoline tax.
Rauner will deliver his budget speech on Wednesday.
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