Taxes could rise on high-end real estate on the island of Hawaii
The top Republicans in the Illinois legislature are pushing for a vote that would remove from the November ballot a measure that would allow for a progressive income tax. Democrat Governor J.B. Pritzker has been pushing to amend the state constitution to allow for a graduated income tax, instead of the current flat 4.95 percent rate. House Minority Leader Jim Durkin called the ballot measure a “cash grab,” with Republicans insisting that the state’s economy is too fragile to absorb the higher taxes that Pritzker wants. Democrats brought the legislature back to Springfield this week to consider a state budget and Covid-19 relief measures aimed at families and small businesses. Pritzker says a progressive income tax would give Illinois much-needed revenue, and that only around 3 percent of taxpayers — those making more than a quarter-million dollars a year — would be affected by the change.
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