An Illinois Senate subcommittee has okayed a constitutional amendment for the November ballot that would install a progressive income tax in the state. The proposal will now be voted on by the Senate Executive Committee, which is expected to approve the plan and send it to the full chamber for a vote.
Both the House and the Senate have to pass the plan by a three-fourths majority vote by May in order for the proposal to make it onto the November ballot. The Fair Tax Amendment, proposed by State Sen. Don Harmon (D-Oak Park), would move the state from a flat personal income tax, which is currently at five percent, to a progressive tax rate that would be determined based on an individual's income level.
Last week, the Illinois House Revenue and Finance Committe voted the proposal down.
Comments
Login or register to post comments