December 12, 2017

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Illinois, Latest News

Rauner-Supported Republican Tax Bill Will Reduce Future Chicago-Area Home Values By Up To 9.6%

Rauner Says Congress Is “Making Progress” On Tax Bill Last Week

Today, Crain’s Chicago Business reported that future home values of Chicago-area homes would drop in value by up to 9.6% should the Republican tax plan go through. Governor Bruce Rauner expressed his support for the legislation a few weeks ago, then tried walking back his remarks by further expressing support for Congress’ effort in passing the bill. 

Crain’s Chicago Business reported Moody Analytics found that “Lake, McHenry, Will and DuPage are listed among the 30 U.S. counties that will lose the most potential growth in home values.” Topping the list is Lake County, that will lose 9.6% in future home values, with other collar counties losing between 6.5% and 8.3%.

In his most recent public comments on the bill, Rauner said Congress was “making progress” and continued to encourage the President Trump’s White House and Congress to make a deal:

Reporter: “Governor Rauner, republicans are committed tax cut plan that will eliminate the state and local tax cut deduction that could hurt Illinoisans. What are your thoughts on the Republican tax plan.”

Rauner: “Yes, well, you’re right. I want to make sure that Illinois, the residents the people of Illinois, actually well treated in the tax plan and the overall tax burden on the people of Illinois is reduce…I’m encouraging Congress and the White House to work together to get major tax overhaul at the federal level. I think they have quite a-ways-to-go. They’re making progress. To me, the first test of any tax overhaul, does it increase the net take-home pay for middle class families or not, yes or no. Right now, I think they have a-ways-to-go. I want to increase net take-home pay for middle class families in Illinois and across America. That’s what I’m trying to do as Governor and I hope Congress will do the same.

Republican are making progress in socking Illinois taxpayers, and Rauner’s cheering them on.

“Bruce Rauner’s hanging Illinois taxpayers out to dry by ignoring the impacts of Donald Trump’s tax plan,” said DGA Illinois Communications Director Sam Salustro. “Today’s report shows Chicago-area homeowners are going to be among the hardest hit in the nation, yet Rauner continues to praise the progress Trump and congressional Republicans are making. Rauner needs to stop encouraging Congress and start fighting to protect Illinois taxpayers from Donald Trump’s tax plan.”