HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Places » U.S. » Illinois (Group) » Illinois House OKs tax ra...

Fri May 31, 2019, 07:00 AM

Illinois House OKs tax rates for proposed graduated scale

SPRINGFIELD, Ill. (AP) Democrats who control the Illinois House on Thursday approved tiered income-tax rates that would take effect if voters opt for revamping state taxation to hit higher incomes harder, a plan they say is aimed at attacking the state's crippling debt.

The 67-48 vote followed blistering criticism from Republicans. They claimed it's not the ticket to financial stability that Democratic Gov. J.B. Pritzker promises, but to runaway government spending.

The vote came on the next-to-last day of the General Assembly's spring session and finalized a Pritzker campaign centerpiece. The plan would replace the current 4.95% flat rate with a progressive scale topping out at 7.99% for the wealthiest residents of Illinois.

The overhaul would raise $3.4 billion in new annual revenue, according to Pritzker. It would take effect in 2021 only if voters in next year's election approve an amendment to the state constitution, which currently stipulates that income be taxed at a flat rate.

Read more: https://www.nwitimes.com/news/state-and-regional/illinois/illinois-house-oks-tax-rates-for-proposed-graduated-scale/article_336c259d-a6a4-501e-b442-47004460fb34.html
(Northwest Indiana Times)

1 replies, 444 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 1 replies Author Time Post
Reply Illinois House OKs tax rates for proposed graduated scale (Original post)
TexasTowelie May 2019 OP
beachbum bob May 2019 #1

Response to TexasTowelie (Original post)

Fri May 31, 2019, 07:25 AM

1. typical GOP blah blah blah, the rich in Illinois, just like elsewhere do not pay their fair chare

 

times are a changing in Illinois

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread