The Council for Sound Tax Policy (CSTP) is launching a #NoMoreFreeRides digital advertising campaign today advocating to end the antiquated income tax exemption for big credit unions in Illinois. In November, 2020 Illinois voters will be asked whether the state Constitution should be amended to change the flat tax to a graduated income tax rate. With the state of Illinois facing a budget shortfall, the Council is concerned taxes could be raised on working families while big credit unions continue to operate without paying any income taxes. “Regardless of where you stand on the graduated income tax proposal, the time is past due for credit unions to pay their fair share of taxes in Illinois,” said Peter Prickett, CSTP chairman.

Read the full CSTP release.