SPRINGFIELD – In the midst of deep economic uncertainty and historic wealth inequality , State Senator Graciela Guzmán is calling for progressive revenue reform to fill the budget gap for families in Illinois.
“If we are serious about affordability, then we have to be serious about tax justice,” said Guzmán. “We cannot solve an affordability crisis by handing our communities too little and telling them to make it work. That is what austerity does. It gives people less than what they need, then blames them when they cannot make it work.”
Guzmán spoke on the need for revenue reform in a press conference at the State Capitol on Wednesday. There are several bills she is pushing for, including:
- Senate Bill 3376, which would apply Illinois’ personal income tax rate to the appreciation of assets for residents with a net worth of $1 billion or more.
- Senate Bill 3486, a measure that would strengthen corporate tax accountability by addressing how large, multinational corporations report income.
- Senate Bill 3353, which would apply a 10% tax on a digital advertisers’ annual revenue if the revenue earned exceeds $150 million.
- Senate Bill 3796, a proposal that would decouple Illinois from federal tax changes, end high-impact business credits and require a cost-benefit analysis of corporate tax incentives.
According to CBS News, wealth inequality in America has its widest gap in more than three decades. The top 1% of households owned 31.7% of all U.S. wealth in the third quarter of 2025, the highest share on record since the Federal Reserve began tracking household wealth in 1989. That share has increased even as wealth growth for the rest of the population has stalled or slowed, the data shows. Meanwhile, pay for workers lags inflation, meaning corporations are not keeping up with supporting workers during cost pressures despite record profits.
“We cannot solve an affordability crisis by handing our communities too little and telling them to make it work,” said Guzmán. “I think about when my dad would give my mom $100 for the week to feed seven of us. My mom could stretch every dollar, but no amount of stretching changes the fact that $100 was not enough.”
Guzmán is committed to closing the wealth gap and ensuring the rich pay their fair share, not pocketing tax breaks and exploiting working people in Illinois.
