State & Local Government Policy, Business and Technology

Gov. J.B. Pritzker unveils graduated state income tax plan he says would give break to taxpayers earning less than $250,000

Chicago Tribune: Less than two months after taking office, Democratic Gov. J.B. Pritzker embarked on a new and potentially bruising political campaign Thursday by seeking to win public approval of a graduated-rate income tax that he contended would raise $3.4 billion by increasing taxes for the wealthy while lowering taxes for 97 percent of Illinois residents.

“Instituting a fair tax as I’ve proposed will improve the arc of our state’s finances forever and will make our state more fair for everyone,” Pritzker said in unveiling proposed tax rates and income brackets for his long-discussed plan to replace the state’s constitutionally mandated flat-rate income tax.

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