Legislation introduced to bring graduated income tax to Illinois

http://bit.ly/2Gcdi95

By Cassie Buchman, Staff Writer

Tuesday

Apr 9, 2019 at 4:00 PM Apr 9, 2019 at 4:01 PM

Lawmakers have introduced legislation that would get rid of the Illinois Constitution’s requirement that all taxpayers have to pay the same income tax rate.

Gov. J.B. Pritzker’s administration has said it is continuing negotiations with the General Assembly over income tax rates that would be higher for those making more than $250,000 annually.

The constitutional amendment, introduced Tuesday by Sen. Don Harmon, D-Oak Park, ends the flat rate income tax mandate. In addition, the tax on corporations at the highest rate would not exceed the highest rate imposed on individuals by more than an 8-5 ratio.

“After more than a decade of legislators and advocates working to bring a fair tax to Illinois, today is an important next step to give voters a choice about whether or not the wealthy will pay more and 97 percent of families will pay the same or less,” Gov. J.B. Pritzker said at a news conference on Tuesday. “The legislation that was filed today will give voters a choice to amend the state’s constitution to create a fair tax system this amendment will remove the requirement that all taxpayers pay the same rate.”

House Republicans immediately derided the announcement. They say Democrats can’t be trusted to keep tax rates steady and that the state’s massive deficits should be tamed by job growth.

For the change to happen, state lawmakers must approve the amendment by a three-fifths majority, and then voters must approve in a referendum that would likely occur next year.

The Associated Press contributed. This story will be updated.

 

01-All No Sub,02-Pol,16-Econ,19-Legal,24-ILGA,26-Delivered,HL,HL New,RKPRS HL

Region: Springfield,Feeds,State,Politics,Central,City: Springfield,Region: Central

via State Government News – The State Journal-Register http://bit.ly/2GxsTCh

April 9, 2019 at 04:14PM

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