Illinois senator details proposed graduated income tax - – Rockford’s News Leader

Illinois senator details proposed graduated income tax


Democratic state Senator Don Harmon announced Tuesday the details of a proposed graduated income tax that would have those who earn more pay a larger percentage of income than those with lower income.

Harmon's proposal came a day before Governor Pat Quinn's scheduled budget address. Some lawmakers are concerned with the scheduled expiration of the state's temporary income tax increase, which would lead to a loss of $1.6 billion in revenue. If the increase is allowed to expire, the individual rate would go from five to 3.75 percent in January.

Harmon's plan would put a 2.9 percent tax rate on the first $12,500 of a resident's income. After that, income between $12,500 and $180,000 would be taxed at 4.9 percent and income over $180,000 percent would be taxed at 6.9 percent.

Thirty-four states and the federal government use a graduated tax system.

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