Illinois Democrats propose higher taxes for the wealthy
SPRINGFIELD, Ill. (AP) – Illinois House Democrats who want the state to tax millionaires at higher rates plan to take up a measure that would ultimately let voters decide in November.
The proposal would change the Illinois Constitution to allow people to be taxed based on their earnings. Democrats are pushing a companion bill that would set the rates if voters agree to change the Constitution.
Currently, everyone pays 3.75 percent income tax. Democrats propose to increase rates to 9.75 percent for those earning more than $1 million.
Lawmakers need to vote on the measure Tuesday so it has enough time to pass the Senate before the end of the week if it’ll make the ballot.
Republican Gov. Bruce Rauner argues a graduated tax system would make it hard to keep businesses in Illinois.