Pritzker unveils legislation to create graduated income tax
SPRINGFIELD, Ill. (AP) – Gov. J.B. Pritzker is trumpeting legislation introduced in the Illinois General Assembly to create a graduated income tax structure.
Fellow Democrats surrounded the governor Tuesday as he announced the bill that would amend the state constitution.
Pritzker wants to replace the state’s 4.95 percent flat tax with a plan that requires the wealthy to pay more. He says it will mean the same tax bill or a lower one for 97 percent of taxpayers and produce $3.4 billion extra annually.
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.
Three-fifths majorities in both House and Senate would have to approve the amendment before the question is put to voters.