Pritzker's graduated income tax gets preliminary Senate OK

 
 
Updated 4/30/2019 5:03 PM

SPRINGFIELD, Ill. -- Gov. J.B. Pritzker's graduated income tax plan has received preliminary Senate approval.

The Senate Executive Committee voted 13-6 Wednesday to replace the state's 4.95 percent flat tax. It's likely to get a Senate floor vote Wednesday.

                                                                                                                                                                                                                       
 

Pritzker says wealthier taxpayers would pay more and most would pay the same as they do now or less.

The highest rate has been increased from Pritzker's original 7.95 percent on income of $1 million or more.

Now the top rate is 7.99 percent for individual filers earning $750,000 or more. Democratic Sen. Toi Hutchinson of Olympia Fields says $1 million remains the threshold for joint filers because of the so-called marriage penalty.

If the Legislature approves, voters would have endorse the idea as a constitutional amendment in fall 2020.

0 Comments
                                                                                                                                                                                                                       
 
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 X in the upper right corner of the comment box. To find our more, read our FAQ.