
By Dave Dahl
SPRINGFIELD – If Illinoisans vote in Nov. 2020 to change the state income tax from 4.95 percent to a scale based on how much you earn, we’re close to knowing what that scale will be.
Pending a concurrence vote in the Senate on Friday, the higher rates kick in when one makes $250,000 a year. The top rate, 7.99 percent, applies to single filers making $750,000 and couples making $1 million.
“These are teaser rates. These are lying rates. Watch out,” warned State Rep. Margo McDermed (R-Mokena). She and other Republicans said supermajority Democrats will not be able to resist changing the rates to get even more money and hurt more taxpayers.
“I love this state. I will raise my family here,” said the sponsor, State Rep. Mike Zalewski (D-Riverside). “In the next eighteen months, we’re going to have a great debate about what this state’s future holds. We’re the party that respects and honors and makes the middle class want to thrive.
The bill goes to the Senate. After Friday, a bill taking effect immediately needs a three-fifths vote rather than a simple majority.
SB 687 has passed the house, 67-48.
Dave Dahl can be reached at [email protected].