Illinois House Speaker Mike Madigan’s power over Illinois politics is more precarious than ever. A steady stream of federal investigations, wiretaps and raids of people close to him, a deferred prosecution agreement with Commonwealth Edison wherein the utility giant admitted to bribing the speaker, and a grand jury subpoena served to Madigan’s office have led...View Report
Illinois politicians are already talking about taxing retirees, adding “surcharges” and city income taxes if they can convince voters to abandon the Illinois Constitution’s flat tax protection and give lawmakers greater taxing power.
A progressive income tax would force nearly all joint filers in Illinois to pay higher income taxes than they would as single filers. Meanwhile, some wealthy couples would save thousands in state income taxes.
Gov. J.B. Pritzker is calling his $3.4 billion tax hike “fair,” but his plan comes with a hefty penalty for some Illinoisans who choose to tie the knot.