Progressive Tax Rates Unveiled

Progressive Tax Rates Unveiled

ILLINOIS (RFD) — Governor JB Pritzker released his proposal for a new way to tax income in Illinois. A progressive tax structure would lower the tax on incomes under $250,000. That lower rate however starts at 4.75%, a tax break of maybe a few hundred dollars a year for most tax payers in Illinois. Pritzker says that it’s the best way to handle billions in unpaid bills and pension liabilities.

Opposition has already started on the other side of the isle from the Illinois Republican Party to members of the House GOP.