Illinois voters will get the chance to decide how they want to be taxed, after the state House of Representatives voted Monday (May 27th) to put a proposal on the 2020 ballot that would change the state’s personal income tax system. The measure asks whether the Illinois Constitution should be amended so that the state’s current flat tax is changed to a graduated income tax model, as is done for federal taxes, in which people with higher incomes pay higher rates.
Under the proposal backed by Democratic Governor J.B. Pritzker, Illinois residents who earn more than $250,000 a year would pay a higher state income tax rate, potentially raising an additional $3.4 billion in revenue. Republicans are opposed to the measure. Illinois is one of nine states with a flat rate for its state income tax.
