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Scott Reeder: Illinois has become the "tax hike state"

Scott ReederJournalist

Mar 23, 2014

House Speaker Michael Madigan proposed a tax hike Thursday that would jack up taxes on those with a personal income of $1 million or more.

The plan would tax income under $1 million at whatever rate was in place, currently 5 percent but scheduled to drop next year. Income beyond that threshold would be taxed at a rate 3 percentage points higher, or 8 percent under the current policy.

Madigan says raising taxes on millionaires would enable the state to give $1 billion more toward schools.

Madigan spokesman Steve Brown said the proposal is

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