Illinois Senate Set To Vote On Graduated Income Tax Plan
Advocates of Illinois Gov. J.B. Pritzker's graduated income tax are planning to take it to a vote in the state Senate.
The plan to replace the state's 4.95 percent flat tax with a graduated system that puts a heavier burden on more affluent residents could be called in the Senate Wednesday.
A committee approved the measure Tuesday on a 13-6 partisan roll call vote.
The Democratic governor says 97% of taxpayers would see no tax increases. The plan would need voter approval in November 2020 if it's approved by extraordinary legislative majorities.
Olympia Fields Democratic state Sen. Toi Hutchinson's measure has a higher top rate than originally planned. It would be 7.99 percent for individual taxpayers making $750,000 or more. That rate would hit joint filers at $1 million to offset the so-called marriage penalty.