Statewide amendment for graduated income tax fails

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PEORIA, Ill. (WMBD) — With 98 percent of the votes reporting in, the statewide amendment on the graduated income tax will not pass in Illinois.

The graduated income tax proposal would allow voters to decide whether to replace Illinois’ flat income tax with a graduated structure, which would end the single-rate system currently in place.

The graduated tax rates that were approved were:

  • $0-$10,000: 4.75%
  • $10,000-$100,000: 4.90%
  • $100,001-$250,000: 4.95%
  • $250,001-$350,000: 7.75%
  • $350,001-$750,000: 7.85%
  • $750,001+: 7.99%

The rates for married couples are listed below:

  • $0-$10,000: 4.75%
  • $10,001-$100,000: 4.90%
  • $100,001-$250,000: 4.95%
  • $250,001-$500,000: 7.75%
  • $500,001-$1,000,000: 7.85%
  • $1,000,001+: 7.99%

Gov. J.B. Pritzker previously said substantial cuts would need to take place or the state would need to take out a loan to cover the income the tax structure would have brought to Illinois.

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