Illinois Moves to Raise Taxes on Richest by Scrapping Flat Tax

Illinois lawmakers advanced Governor J.B. Pritzker’s plan to stabilize the state’s finances by filing a bill to amend the state constitution to do away with its flat income tax, a step toward raising income levies on the highest earners.

The legislation seeks to end the requirement that all taxpayers pay the same rate regardless of income and would provide an influx of revenue for a government whose pension-fund shortfall and budget deficits have left it with a near junk-bond rating.