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Last year, politicians passed a budget with a $4 billion deficit. Earlier this year, Illinois House Speaker Michael Madigan suggested raising the state income tax back to 5%. Then Speaker Madigan (again) proposed a new tax on job creators, calling it the Millionaire’s Tax. Now, politicians are once again looking at scrapping our constitutionally-protected flat state income tax and replacing it with a graduated, or progressive, one calling it a ‘fair tax’.
Do you trust Springfield politicians enough to give them carte blanche ability to add brackets, increase the rates or lower the income threshold at which higher rates apply?