Newsviews: Graduated Tax Amendment

SPRINGFIELD, Ill. (WLS) — On Election Day, Illinois voters will be asked to vote on an amendment to the state’s constitution.

If approved, lawmakers could replace the state’s flat-rate income tax with a graduated-rate structure.

So instead of everyone paying the current 4.95%, people with higher incomes would pay a higher income tax rate.

WATCH: NEWSVIEWS PART 1RELATED: As tax amendment vote approaches, some Republicans accuse governor of intimidationWATCH: NEWSVIEWS PART 2

But there is wide disagreement about the impact such a change could have on taxpayers, businesses and the state’s finances.

ABC 7 Chicago spoke this week with Quentin Fulks, chairman and executive director of Vote Yes for Fairness, a group supporting the amendment, and Lissa Druss, a spokeswoman with the Coalition to Stop the Proposed Tax Hike Amendment.

Copyright © 2020 WLS-TV. All Rights Reserved.

via ABC7 Chicago

September 27, 2020 at 04:42PM

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