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Progressive income tax in Illinois voters’ hands

Governor Pritzker’s progressive income tax proposal has passed the Illinois House and Senate. Now, ratification of the constitutional amendment will be up to voters in the 2020 election.

Kevin Semlow with the Illinois Farm Bureau says their membership has opposed the bill throughout the process.

“I think what our membership has made very clear is the fact that the state is still in a fiscal crisis. Its expenditures exceed its revenue currently and they just feel this is another way to pass legislation to increase more revenue to the state of Illinois.”

He tells Brownfield if voters choose to ratify the amendment, it will be up to the General Assembly to put tax rates in place, which could impact each farmer and taxpayer differently.

“With prices being what they are there will be some farmers who won’t see immediate impacts from this, but in very good years they’ll see much more potential for higher levels of income tax rates then they do now.”

The General Assembly’s current proposal has six tax brackets with rates ranging from 4.75% to nearly 8%. Semlow says that could be quite a jump from Illinois’ current flat income tax rate of 4.95%.