Graduated Tax Fails; Cuts, Tax Hikes or Both Could Follow
•November 11, 2020• By Capitol News Illinois Backers of a graduated income tax constitutional amendment conceded defeat Wednesday, Nov. 4, for Gov. JB Pritzker’s marquee policy proposal which was projected to bring in more than $3 billion annually to state coffers. With 98 percent of precincts reporting, voters had rejected the amendment by a 55 percent to 45 percent margin. The Associated Press called the race for the “No” camp, as a large number of outstanding mail ballots were almost certainly not enough to make up for the deficit of approximately 500,000 votes. In his daily COVID-19 briefing in Chicago, … Read More
