SPRINGFIELD, Ill. (WTVO) — Illinois Governor J.B. Pritzker has opened up his check book to spend big money promoting his progressive income tax.
Pritzker dropped $5 million into a new campaign fund called “Vote Yes for Fairness,” which is dedicated to convincing voters to vote ‘yes’ on the 2020 ballot question to approve the tax.
The new tax plan would offer a slight tax reduction to people earning less than $250,000 annually. People earning more than that would see a dramatic income tax increase up to at least 7.75 percent, reaching a cap of 7.95 percent for people earning a million dollars or more per year.
The special committee can only raise awareness for the ballot question and cannot be used to funnel money to other outside organizations.
“Look, it was important to me to step up and support something that I have been talking about since day one of my campaign, something that I think is very important for the state,” the governor said.
Supporters of the progressive income tax say it is needed to solve the state’s budget mess.
Those against the idea say it will only pave the way for future tax hikes.
- Stillman Valley beats Winnebago on the road
- Stateline students preserve the stories and history of local veterans
- Tips for homeowners to stay warm and safe in winter storms
- Swedes’ therapy dog calendar profits support Rockford Police K-9s
- Chicago Bears give $4,000 to Harlem’s athletic program