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WTTW Chicago Tonight: Millionaires Would Pay 3 Percent More Under Pritzker Tax Plan
Want to know what you would be paying under Gov. J.B. Pritzker’s graduated income tax proposal? The governor released the specifics of his plan Thursday, and, as advertised, it would hit high earners the hardest.
Illinoisans who earn $1,000,000 and up will have to get used to paying 3 percent more of their income in state income taxes under the governor’s just-released proposal – though Pritzker cautions this is his opening plan and negotiations are underway with the General Assembly for a final plan. The current rate is a flat 4.95 percent for everyone, so 97 percent of earners, according to the governor, would actually see a slight cut in their state income taxes.
Chicago Tribune: Gov. Pritzker's $3.4 billion tax hike: How to fan the 'Illinois Exodus'
Gov. J.B. Pritzker on Thursday unveiled details of his promised push for a graduated income tax. He campaigned on the issue. He delivered.
So how much will taxes increase under a rate structure Pritzker proposed? You might want to cover your eyes. About $3.4 billion annually, by his calculation.
Associated Press: Business leader skeptical of Pritzker tax plan
A leading Illinois business advocate says Gov. J.B. Pritzker has it “backward” in trying to solve the state’s fiscal crisis with a graduated income tax plan.
Todd Maisch is president and CEO of the Illinois Chamber of Commerce. He says Pritzker’s plan to raise $3.4 billion in new revenue from a progressive tax structure will drive out businesses. Pritzker campaigned on ridding the state of its flat-rate structure and on Thursday proposed rates ranging from 4.75 percent to 7.95 percent, depending on income.
Peoria Journal-Star: State higher education officials defend Pritzker’s proposed budget increase
Higher education officials defended Gov. JB Pritzker’s proposed $137 million increase in higher education funding for next year before a key House committee on Thursday as some lawmakers expressed skepticism the full request could be funded.
Nyle Robinson, interim director of the Illinois Board of Higher Education, called the proposal “the largest increase that higher education has seen, if passed, since Fiscal Year 2002.”
Chicago Tribune: Emanuel cuts ribbon on new grocery store in Woodlawn, but blocks indicted Ald. Willie Cochran from taking credit
Mayor Rahm Emanuel cut the ribbon on a much-anticipated new grocery store in Woodlawn on Thursday morning, and in the process gave a political stiff arm to the local indicted alderman.
Several hundred people packed the new Jewel grocery store at 61st Street and Cottage Grove Avenue, creating a traffic jam to get into the store’s parking lot. Inside, Emanuel took the stage with a bunch of community leaders, including Ald. Willie Cochran, who is scheduled to plead guilty to corruption charges later this month.
Chicago Tribune: Ex-Ald. 'Fast Eddie' Vrdolyak pleads guilty to federal charges for a second time in little over a decade
Former Chicago Ald. Edward Vrdolyak faces up to 2½ years in prison after pleading guilty Thursday to a federal tax evasion charge stemming from millions of dollars in payments he received from the state’s massive settlement with tobacco companies in the 1990s.
Vrdolyak, 81, was charged in an indictment in 2016 alleging he obstructed an Internal Revenue Service investigation into the tobacco deal by hiding payments to and from his friend and associate, attorney Daniel Soso.
Daily Southtown: Cook County investigating reports of vote-buying in Harvey
The Cook County sheriff’s office has opened an investigation into alleged voter fraud in Harvey at the request of the county clerk’s office, an agency spokeswoman said.
Spokeswoman Sophia Ansari declined to elaborate on the nature of the allegations or when they were made, but said the investigation had been launched recently and could lead to criminal charges.
Chicago Tribune: Zoning Committee approves Lincoln Yards project; megadevelopment is just 3 votes away from final OK
Mayor Rahm Emanuel went to unusual lengths Thursday to push the controversial Lincoln Yards plan through a City Council committee, relying on aldermanic allies to override the usually sacrosanct wishes of the committee chair, who wanted to defer the vote on the massive project.
Developer Sterling Bay emerged from the dramatic meeting with support from the City Council’s Zoning Committee for its $6 billion development on the North Side.
WBEZ: City Colleges Of Chicago Puts Tuition Increase On Hold
City Colleges of Chicago has walked back a proposal to increase tuition at its seven colleges.
College leaders were planning to ask its board of trustees at their monthly meeting Thursday to approve a two percent tuition hike every year for the next four years, according to an internal presentation first reported by WBEZ.