Illinois Income Tax Rate to Go Up 32%, Permanently
It's official, if you work in Illinois, your income tax rate will go up by 32%, permanently.
Today, the Democrat led Illinois House, under Speaker Madigan, voted to override Governor Rauner's veto of the measure, which means the tax increase will go into effect immediately. In fact, the new increase will go back to your earnings as of July 1st.
Most Rockford area house members opposed the veto override, with the exception of Rockford Democrat Litesa Wallace who voted for the override (tax increase). In a video posted on Facebook she was touting the benefits of the proud of the tax increase.
Rep Cabello (R) Rockford, in passionate speech, took to the house floor to asking his fellow representatives to vote to sustain the governor's veto. (Fast forward to 27 mins into the video)
It is estimated that the average Illinois family will pay an additional $1200 a year in new taxes to the State of Illinois. Unlike the last Income tax increase that passed in 2011 which was temporary, this one is permanent. The tax increase passed without any government reforms and no property tax freeze.
The Wallethub recently reported that the State of Illinois, prior to the passage of the income tax hike, that Illinois' combined state and local tax burden is higher than that of every other state and the District of Columbia. With the addition of the new rate that pushes the personal income tax rate to 4.95% (up from 3.75%), Illinoisans will have an even larger burden.
How did your Rockford Legislators vote on the permanent tax increase? Yes = In favor, No = Against
HOUSE MEMBERS (Note all are up for re-election in Spring of 2018)