Graduated tax amendment approved by Senate

http://bit.ly/2GPWrYM

Doug Finke State Capitol Bureau @DougFinkeSJR

Wednesday

May 1, 2019 at 2:38 PM May 1, 2019 at 2:38 PM

The Illinois Senate Wednesday approved a proposed constitutional amendment and three companion bills that could move the state to a graduated income tax system after 2020.

All of the bills were propelled by Democratic votes in the chamber that is dominated by Democrats.

The Senate vote means the measures will now move to the House for consideration.

The key bill was a proposed constitutional amendment that calls for the state to scrap its current flat income tax and replace it with a graduated tax where wealthier taxpayers will pay more. Gov. J.B. Pritzker campaigned on a platform of bringing a graduated income tax to Illinois which he said is a fairer system than a flat tax where everyone pays the same rate regardless of income.

Republicans oppose the idea and said it will be easier for lawmakers to raise income taxes if the increase is focused only on the rich.

If the House approves the amendment, it will go on the 2020 ballot, where voters must approve it before a graduated tax can be imposed.

The Senate approved three other bills Wednesday that will not go into effect unless the graduated income tax amendment is approved. One bill sets the tax rates that will be imposed if voters approve the change. Another ends the estate tax, which affects wealthier taxpayers. The final bill freezes school property taxes if the state fully funds the school funding formula and expenses for things like school transportation in any budget year.

This story will be updated.

Contact Doug Finke: doug.finke@sj-r.com, 788-1527, twitter.com/dougfinkesjr.

26-Delivered,16-Econ,AllPolGA

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

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

May 1, 2019 at 02:58PM

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