On May 23, 2019, the Illinois Bankers Association delivered a letter to Governor Pritzker and the four state legislative leaders explaining our opposition to the proposed progressive income tax constitutional amendment. We also asked policymakers to promote fair competition by subjecting credit unions to state taxation.
This spring, lawmakers are considering a wide range of tax and fee increases to support the state budget as well as to underwrite a new capital infrastructure spending plan. The IBA’s letter encourages the state’s leadership to tax credit unions – particularly the large, aggressive credit unions that compete directly with community banks – as part of their revenue package.
Read the Letter