Difference between revisions of "Mike Frerichs"

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'''Mike Frerichs'''
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'''Mike Frerichs''' is State Treasurer of [[Illinois]].
  
 
==Graduated income tax==
 
==Graduated income tax==
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"It's the appropriate way to impose an income tax if you want to have a system that taxes fairly and responsibly in a capitalist economy," Martire said. "We have a flat tax, which means we leave too much of the economic growth out of our tax structure and we place the greatest burden on low- and middle-income taxpayers."<ref>[http://www.news-gazette.com/news/state/2007-10-19/sen-frerichs-proposes-new-tax-structure.html The News Gazette, Sen. Frerichs proposes new tax structure Fri, 10/19/2007 - 6:48am | Kate Clements]</ref>
 
"It's the appropriate way to impose an income tax if you want to have a system that taxes fairly and responsibly in a capitalist economy," Martire said. "We have a flat tax, which means we leave too much of the economic growth out of our tax structure and we place the greatest burden on low- and middle-income taxpayers."<ref>[http://www.news-gazette.com/news/state/2007-10-19/sen-frerichs-proposes-new-tax-structure.html The News Gazette, Sen. Frerichs proposes new tax structure Fri, 10/19/2007 - 6:48am | Kate Clements]</ref>
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==Treasurer's Transition Team==
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Two weeks after Election Day 2014 and with the vote counting finally finished, Democrat [[Mike Frerichs]]  emerged the winner of Illinois’ closely contested state treasurer’s race.
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Heading his transition team will be Illinois [[AFL-CIO]] President [[Michael Carrigan]] and Democratic U.S. Rep. [[Robin Kelly]], a former state lawmaker and former deputy in the office of former Treasurer [[Alexi Giannoulias]].<ref>[http://www.chicagotribune.com/news/local/politics/chi-unresolved-illinois-treasurers-race-closest-in-decades-20141118-story.html, Chicago Tribune, Frerichs claims victory in close Illinois treasurer's race, By Rick Pearson, Ray Long, Nov 19, 2014]</ref>
  
 
==References==
 
==References==

Revision as of 01:05, 28 November 2014

Mike Frerichs is State Treasurer of Illinois.

Graduated income tax

In 2007 State Sen. Mike Frerichs, D-Champaign, wanted Illinois to switch to a graduated income tax, meaning high earners owe a larger percentage than those with lower incomes.

"We think this might be the way to truly reform education funding in this state and also provide property tax relief," Frer-ichs said.

It won't be an easy task. The Illinois Constitution specifies that "a tax on or measured by income shall be at a nongraduated rate." Frerichs and state Sen. Kwame Raoul, D-Chicago, are forming a committee to work on changing that provision of the constitution.

"This isn't going to happen with just me and Sen. Raoul; we are looking to build a much larger coalition," Frerichs said.

Getting a constitutional amendment on the ballot requires a three-fifths majority vote in both the House and the Senate or a petition with nearly 280,000 signatures – enough to equal at least 8 percent of the total votes cast in the last election for governor. Once it gets on the ballot, it needs approval from 60 percent of those voting on the question or a majority of the people who voted in that election.

Ralph Martire, executive director for the Center for Tax and Budget Accountability, said he strongly supported the idea of graduated income tax.

"It's the appropriate way to impose an income tax if you want to have a system that taxes fairly and responsibly in a capitalist economy," Martire said. "We have a flat tax, which means we leave too much of the economic growth out of our tax structure and we place the greatest burden on low- and middle-income taxpayers."[1]

Treasurer's Transition Team

Two weeks after Election Day 2014 and with the vote counting finally finished, Democrat Mike Frerichs emerged the winner of Illinois’ closely contested state treasurer’s race.

Heading his transition team will be Illinois AFL-CIO President Michael Carrigan and Democratic U.S. Rep. Robin Kelly, a former state lawmaker and former deputy in the office of former Treasurer Alexi Giannoulias.[2]

References

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