Illinois income tax calculator: How would Gov. J.B. Pritzker’s proposed graduated income tax affect you?

By Kyle Bentle and Jonathon Berlin and Chad Yoder

Senate Democrats in Springfield approved legislation for a state graduated income tax, a top legislative priority for Gov. J.B. Pritzker. The plan tweaks an earlier proposal by Pritzker, changing rates for higher incomes and splitting off rates for single filers vs. joint or married filers. 

Pritzker has proposed a graduated income tax as a way to fix Illinois’ shaky finances. The proposal would increase taxes for the wealthy and lower taxes for the great majority (97 percent of state taxpayers) by applying different tax rates on different levels of income. Currently everyone pays a flat income tax of 4.95 percent.

The state House still needs to approve the measure in order for it to go before voters in the November 2020 election.

Via Chicago Tribune