State Rep. Tom Demmer (R-Dixon) has formally launched his 2022 challenge to longtime state Treasurer Mike Frerichs, marking the first time a Republican candidate has actively sought the post since 2015.
Saying he is tired of watching friends and family flee the state in search of better opportunities, Demmer marked the start of his run by accusing Frerichs and other lawmakers of having allowed spending and taxation to balloon out of control.
“Springfield politicians’ answer to every problem is higher taxes and more spending,” Demmer tweeted. “Our hardworking families have had enough. That’s why I’m running for state treasurer, I will be a fiscal watchdog to help turn things around and get Illinois back on track.”
Demmer said every resident is being forced to pay the price for Springfield’s shortcomings.
“When Illinois families leave, it’s our communities that pay the price, as corruption and bloated government drain taxpayer dollars away from schools, public safety, and community services,”
Demmer blasted Frerichs for spending his 15-year political career “supporting tax increases,” including the failed 2020 Fair Tax amendment proposed by Gov. J.B. Pritzker.
Demmer faulted Frerichs over comments he made in June of 2020 when Frerichs voiced support for allowing taxes on retirement income as part of Pritzker’s proposed graduated-rate tax system.
“The vast majority of Illinoisans have not heard of Mike Frerichs but he stands tall among the tax-and-spend Springfield crowd,” he told the Chicago Tribune. “Throughout his 15 years as a Springfield politician, Mike Frerichs continually voted to raise taxes. And now, he even wants to tax retirement.”
In Illinois, the treasurer position handles the state’s finances in partnership with the comptroller’s office. While the comptroller focuses on paying bills, the treasurer’s office invests state money.
With the state facing its largest inflation jump in over three decades during October’s price surge, Demmer also proposed up to $400 in tax credits.
“That's why today we're proposing an up-to $400 refundable tax credit for Illinois taxpayers across the state,” Illinois Valley Time reported he said at a recent news conference. “Our proposal mirrors some of the financial aid that was given by the federal government in the last couple of years. Our proposal would call for single filers (who make) up to $75,000 in income to receive $200. Joint filers (who make) up to $150,000 to receive $400 and head of household filers (who make) up to $112,000 to receive $200.
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