Gov. J.B. Pritzker has launched an online calculator that he says will let Illinoisans know how his proposed graduated income tax will affect their families.
Pritzker last week rolled out his plan to end Illinois' flat-tax, now set at 4.95 percent, and join 35 other states with scaled-up rates for higher incomes. Pritzker's proposed taxes would start at 4.75 percent for earnings up to $10,000 and levy a top rate of 7.95 percent on $1 million or more.
On Tuesday, Pritzker unveiled what his office calls a "Fair Tax Calculator" that he says would let citizens input their information to see how much they would pay under the new plan compared to the current tax structure.
Pritzker says Illinois' current tax system is unfair to the middle class. Republicans and some business leaders don't support the proposal.
Users can input their income, filing status, exemptions, dependents, property tax paid and K-12 expenses to calculate how the proposed tax compares to the current flat income tax.
Using that information, the calculator determines how much the total tax bill changes. For 97 percent of Illinois taxpayers, the amount will go down, according to Pritzker's office. In some cases the reduction will be nominal; in others, it will result in several hundred dollars.
The Fair Tax Calculator is available at www.illinois.gov/FairTaxCalculator.
WLS-TV contributed to this report.
Illinois Gov. JB Pritzker unveils online graduated income-tax calculator