Bethany Jaeger is reporting that SJRCA 92 is scheduled to receive a vote in the State Senate today:
The Illinois Senate is expected Tuesday to vote on a proposal to change the Constitution so that the state could have a graduated income tax rate rather than the current flat rate (3 percent on individuals and 5 percent on corporations). That's according to the sponsors of the proposal, Democratic Sens. Michael Frerichs of Gifford and Kwame Raoul of Chicago.
"This is no tax increase," Raoul said, referring to a misconception that this measure relates to a House proposal that would double the tax rate on individuals making more than $250,000.
As we earlier noted, this bill simply paves the way for an eventual graduated income tax in Illinois by amending the constitutional provision currently mandating a flat tax rate. The measure doesn't actually provide for a new rate structure.
However, if the constitutional amendment were to receive three-fifths support in both chambers by the May 4 deadline and then be approved by 60 percent of voters in November, it could theoreticaly allow Sens. John Cullerton and James Meeks to propose a graduated tax -- rather than an overall increase -- when they revive their funding bill following the election.
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