SPRINGFIELD, Ill. (AP) — A ballot proposal that would allow Illinois to switch from a flat tax to a graduated income tax that takes a larger percentage from wealthy residents was undecided early Wednesday with votes still uncounted.
The switch would give Democratic Gov. J.B. Pritzker and lawmakers a roadmap to paying down the state’s billions of dollars in debt.
The question on the ballot would amend the Illinois Constitution, which requires that income be taxed at a flat rate. It’s currently at 4.95% for individual payers.
Pritzker campaigned on switching to a graduated rate, contending he could raise $3 billion extra a year while not imposing higher taxes on 97% of taxpayers