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Big Money Funds Debate on Illinois Graduated Income Tax Vote

SPRINGFIELD, IL (AP)–Illinois voters are being asked whether they want to change the state’s income-tax structure from a flat-rate system to one that reportedly takes more from wealthier residents.

Gov. J.B. Pritzker is backing what he calls the “fair tax,” and promising that no one making less than $250,000 would pay more. That’s 97% of taxpayers.

But wealthier taxpayers would pay up to a top rate of 7.99%. In theory, it would generate $3.4 billion more a year in revenue.

Opponents claim it will give lawmakers a “blank check” to increase spending without paying the state’s massive pile of debt, and would also tax retirement income, and raise taxes on small businesses at a time, when many are failing due to heavy state ordered Coronavirus restrictions.


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