Lake County Gazette

Illinois House Rep. David McSweeney (R-Barrington Hills) fumes that Democratic state lawmakers are set to ring in the New Year much in the same tax-and-spend way that defined 2019.

“What better way for money hungry bipartisan ‘leaders’ in Springfield to celebrate the New Year than with a new sales tax on vehicle trade-ins,” McSweeney recently posted on Facebook. “I voted 'Hell No.' The last thing Illinois residents need is another burdensome tax hike.”

The sales tax on vehicle trade-ins is one of at least 250 new laws set to kick in on Jan. 1, many of which will increase taxes or fees for state residents. Illinois Policy Institute (IPI) reports that the tax on vehicle trade-ins could cost some motorists upward of $1,000.

Illinois' new tax on vehicle trade-ins could cost some motorists upward of $1,000.

The policy works by establishing that a maximum of $10,000 in trade-in value will be exempt from the sales tax, moving some critics to argue that motorists who seek to trade in a vehicle will now be taxed twice for that vehicle. IPI reports that the new tax is annually expected to generate in the neighborhood of $60 million to go toward Gov. J.B. Pritzker’s $45 billion capital spending plan, which the watchdog has previously reported includes as much as $1.4 billion of waste and pork projects in the form of dog parks, snowmobile paths, pickleball courts and a privately owned theater.

The trade-in price-tag hike also comes at the same time a gas tax hike and license plate sticker increase are set to kick in. McSweeney has indicated that he’s had enough, recently launching the Cut Illinois Taxes Now coalition.

“The people of Illinois deserve better than a state that has been called 'the least tax-friendly in the nation,'” McSweeney states on the group’s website. “And they need relief now. We are working to bring awareness to the citizens of Illinois about just how much they pay in taxes and show how those taxes hurt working families.”