Illinois proposal would cut tax rates on low-income single filers
SPRINGFIELD, Ill. - There is a new proposal for a graduated income tax being introduced in Illinois.
Under the legislation, tax rates on low-income single filers would be cut to as low as 4 percent.
The current rate is 4.95 percent.
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Two years ago, Gov. J.B. Pritzker tried introducing a similar plan called the 'Fair Tax' but Illinois voters rejected it.
This plan is different because it would put the same amount of money in the Illinois State Treasury as the current flat tax does.
It would not generate more funds for the state.