Flat tax illinois1/22/2024 ![]() ![]() But banks started raising consumer fees at the account level to make up for lost revenue, which is why so many checking accounts require certain types of activity, or certain balances, if you want to avoid a monthly fee. The Durbin amendment sought to reduce interchange fees collected from businesses that allowed debit purchases. ![]() In 2019, Durbin was one of six senators who appealed to CFPB head Kathy Kraninger to step up the bureau’s efforts to protect student loan borrowers, especially those hoping to qualify for the Public Service Loan Forgiveness Program (PSLF).ĭurbin is also responsible for a portion of Dodd-Frank Act financial regulations that had an unexpected, adverse effect on consumers post-2008 crash. ![]() Durbin for a Fifth Senate Term?ĭick Durbin, four-term Illinois senator, serves as the minority whip, making him the second-highest ranking Democrat in the Senate behind Chuck Schumer. Perhaps the most significant item on Illinois lawmakers agenda this session is a proposal to change the states individual income tax system from the current flat rate to a progressive scale. Supporters say the change taxes the wealthy while potentially reducing the tax burden for many people with lower incomes.īut opponents say the plan is flawed, and the amendment raises taxes when surrounding states are lowering them, which could drive some residents to move away-especially those with remote-friendly employers. ![]()
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