advertisement

APNewsBreak: Study finds tax plan would narrow income gap

SPRINGFIELD, Ill. (AP) - A study has found that a graduated income tax like the one Gov. J.B. Pritzker is touting would narrow a growing income gap among the state's richest and poorest and deliver $3 billion or more in extra revenue for underfunded schools and infrastructure.

The peer-reviewed exam by the Project for Middle Class Renewal and the Illinois Economic Policy Institute evaluated eight scenarios based partly on progressive income tax structures among Illinois neighbors. The Associated Press obtained the study in advance of its Monday release.

Authors Robert Bruno and Frank Manzo found that most of the scenarios met public policy goals of taming income disparity, cutting income and property taxes, and generating billions of dollars to cut Illinois deficit, and bolstering education and public brick-and-mortar spending.

Article Comments
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.