THE ILLINOIS SENATE IS VOTING TO REVAMP THE STATE’S INCOME TAX STRUCTURE.

THE SENATE APPROVED AN AMENDMENT TO THE CONSTITUTION, REPLACING THE CURRENT FLAT TAX, WHERE EVERYONE IS TAXED AT THE SAME RATE REGARDLESS OF INCOME…WITH A GRADUATED SYSTEM WHERE YOU PAY BASED ON WHAT YOU EARN. OPPONENTS SAY THIS IS BAD FOR TAXPAYERS…BUT SENATOR DON HARMON OF OAKBROOK ARGUES THAT 97 PERCENT OF ILLINOISANS WILL PAY THE SAME OR LESS UNDER THE NEW PLAN.

REPUBLICANS, LIKE SENATOR DALE RIGHTER OF MATTOON OPPOSE THE PLAN, SAYING THIS WILL LEAD TO MORE TAX INCREASES.

THE HOUSE STILL NEEDS TO APPROVE THE AMENDMENT AND THEN IT MUST BE OKAYED BY VOTERS IN THE NOVEMBER 2020 ELECTION. 

THE SENATE ALSO PASSED BILLS SETTING THE NEW TAX RATES, REPEALING THE ESTATE TAX AND ANOTHER AIMED AT PROVIDING PROPERTY TAX RELIEF.