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Voters will determine state’s income tax on 2020 ballot

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SPRINGFIELD, Ill. (WTVO) — A question on the 2020 ballot will determine the future of the state’s income tax.

Governor J.B. Pritzker’s Fair Tax plan would replace the current 4.95% flat rate with a progressive scale that tops out at nearly 8%.

Under the new rates, everyone making less than 250,000 a year would still pay about the current rate. With a graduated structure, Pritzker himself could be subject to up to 1.67 million more in taxes.

He says the new plan hits a small percentage of taxpayers.

“97% of Illinois pay the same or less in income taxes,” Pritzker said. “They will have a vote on raising taxes on just 3% of taxpayers to finally restore stability in our state budget.”

Parents and homeowners can also qualify for extra tax breaks.

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