Illinois Republicans Attempting to Void Income Tax Increase

Lawmakers and Governor JB Pritzker, learned this past week that the state’s income tax take in April was a stunning $4-billion, more than 38-percent more than last year’s number and $1.5-billion more than projected.  Now House Republicans are asking Pritzker and his fellow Democrats, who are in control of the House and Senate, how they need to forgo their plans to increase taxes.  GOP House Minority Leader Jim Durkin, is targeting Pritzker’s plan to change income tax collection to a graduated structure, forcing the wealthy to pay more, while also taking an aim at his proposals to tax plastic bags, hike duties on cigarettes and vaping materials, and limit retailers’ reimbursement for collecting sales tax at the register.  Implementing a graduated income tax structure, according to Pritzker, would generate $3-billion extra income, by taxing the wealthier filers, who financial intake is increasing faster than lower-income earners.  That would require voter approval and would not take into effect until 2021, if approved.  Pritzker is also hoping new or increased taxes and loophole closings, in order to produce $1.12-billion, the biggest of which would be the legalization of recreational marijuana use and sports betting.