Pritzker Unveils Legislation to Create Graduated Income Tax

Pritzker Unveils Legislation to Create Graduated Income Tax

Springfield (AP) – Gov. J.B. Pritzker urged Illinois legislators Tuesday to “let the people vote” on his constitutional amendment that would dump the state’s flat-rate income tax structure for one that takes a bigger bite from the wealthy. Surrounded by fellow Democrats who control both houses of the General Assembly, Pritzker told reporters in his state Capitol office that lawmakers are ready to debate a proposed constitutional amendment to implement a graduated income tax. A Senate plan has been filed; the House will soon follow with its version. The billionaire contends his proposal would mean the same tax bill or a tax cut for 97 percent of Illinoisans; higher taxes only on those making more than $250,000; and $3.4 billion in additional annual revenue for the deficit-riddled state. It would replace the state’s current 4.95 percent flat tax rate. But it’s unclear if Pritzker enjoys support from three-fifths majorities in both House and Senate, which must approve it before the question is put to voters in November 2020 at the earliest.