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Illinois finance: Gov. Pritzker’s tax proposal

MARCH 11, 2019 | by Mary Pat Campbell | STUMP

Pritzker is proposing a 3 percentage point increase in taxes on these millionaires. That’s off a current 4.95% rate. 3 percentage points sounds small. It’s an over 60% increase in taxes. That’s a huge increase. You think the millionaires would just sit there and take it? … As it stands, Illinois can’t impose such a tax regime. It requires the state constitution to be amended. How rapidly can that happen?

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