A SENATE COMMITTEE IS VOTING FOR THE NEW TAX RATES THAT WOULD BE A PART OF THE PROPOSED GRADUATED INCOME TAX PLAN.
THE PLAN IS A LITTLE DIFFERENT FROM WHAT GOVERNOR J-B PRITZKER ORIGINALLY PROPOSED…BUT STILL MEANS MOST PEOPLE WILL PAY LESS OR THE SAME SAYS SENATOR TOI (toy) HUTCHINSON OF CHICAGO HEIGHTS. SHE QUESTIONS WHY THERE IS OPPOSITION TO THE NEW TAX RATES.
BUT OPPONENTS, LIKE SENATOR JASON BARICKMAN OF BLOOMINGTON QUESTION IF THIS IS JUST THE BEGINNING.
THOSE EARNING MORE THAN 250 THOUSAND DOLLARS WILL SEE AN INCREASE UNDER THE GRADUATED TAX STRUCTURE. THE COMMITTEE ALSO VOTED TO REPEAL THE STATE’S ESTATE TAX. THE MEASURES NOW MOVE TO THE FULL SENATE FOR A VOTE.