Tax-the-Rich Fervor Builds in Statehouses After Trump’s Big Cut
- Billionaire governor of Illinois says he should pay more taxes
- New Jersey and other states are eyeing millionaires’ income
Demonstrators gather and hold signs before the start of the Tax March Los Angeles on April 15, 2017.
Photographer: Troy Harvey/BloombergThis article is for subscribers only.
Illinois Governor J.B. Pritzker is targeting the richest residents in a push to raise more revenue for his cash-strapped state. It may help that the billionaire Democrat would have to pay more taxes, too.
Pritzker, an heir to the Hyatt Hotels fortune who reported earnings of $55 million in 2017, wants to do away with Illinois’s flat tax that leaves everyone paying 4.95 percent whether they made millions or are a minimum-wage worker trying to make ends meet. "It’s wrong that I would pay the same tax rate as someone earning $100,000 -- or even worse, pay the same tax rate as someone earning $30,000," Pritzker said in a speech last month.