Rockford Sun

Vowing to rein in what he views as out-of-control spending, state Rep. Tom Demmer (R-Dixon) has launched his campaign for treasurer against incumbent Mike Frerichs.

“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.”

In becoming the first Republican candidate to take on Frerichs since 2015, Demmer said he has grown tired of watching friends and family make the decision to leave Illinois out of concern about a lack of opportunities.

“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,” he said.

Demmer says Frerichs has spent 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 he 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.

Demmer has recently proposed a measure to combat the state's largest inflation jump in over three decades.

“That's why today we're proposing an up-to $400 refundable tax credit for Illinois taxpayers across the state,” Illinois Valley Time reports 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.