Friday, May 3, 2019

Capitol Fax: Senate income tax roundup

This was posted to the CapFax yesterday. A roundup of coverage for the state senate passing Gov. Pritzker's plan for a graduated or progressive income tax. How many of you know that Illinois' income taxes are flat? I never realized the political implications of attempting to insure a graduated or progressive income tax in this state.

The flat rate had been increased in this state in 2017 and earlier in 2011 which was allowed to expire in 2014. And if you've followed Pritzker's campaign for Governor last year he's always talked about insuring that the high-income earners - or the rich - pay their fair share in this state.

BTW, it should be noted to change the flat tax to a graduated tax on income. It requires a constitutional amendment so one of the bills that passed the state senate allows whether or not to change the constitution for this will go through the state house and ultimately we'll see it on the ballot in the next election. The curiosity is what will the state's voter's decide on this issue.

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