STREAMING NOW: Watch Now

Study finds tax plan would narrow income gap

A study has found that a graduated income tax like the one Gov. J.B. Pritzker is touting would narrow a growing income gap among the state's richest and poorest and deliver $3 billion or more in extra revenue for underfunded schools and infrastructure.

Posted: Mar 31, 2019 3:30 PM

SPRINGFIELD, Ill. (AP) - A study has found that a graduated income tax like the one Gov. J.B. Pritzker is touting would narrow a growing income gap among the state's richest and poorest and deliver $3 billion or more in extra revenue for underfunded schools and infrastructure.

The peer-reviewed exam by the Project for Middle Class Renewal and the Illinois Economic Policy Institute evaluated eight scenarios based partly on progressive income tax structures among Illinois neighbors. The Associated Press obtained the study in advance of its Monday release.

Authors Robert Bruno and Frank Manzo found that most of the scenarios met public policy goals of taming income disparity, cutting income and property taxes, and generating billions of dollars to cut Illinois deficit, and bolstering education and public brick-and-mortar spending.

(Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

3/31/2019 2:08:15 PM (GMT -4:00)

Article Comments

Terre Haute
Few Clouds
53° wxIcon
Hi: 59° Lo: 34°
Feels Like: 53°
Robinson
Clear
53° wxIcon
Hi: 59° Lo: 32°
Feels Like: 53°
Indianapolis
Scattered Clouds
53° wxIcon
Hi: 58° Lo: 35°
Feels Like: 53°
Rockville
Few Clouds
53° wxIcon
Hi: 59° Lo: 34°
Feels Like: 53°
Casey
Clear
51° wxIcon
Hi: 59° Lo: 34°
Feels Like: 51°
Brazil
Few Clouds
53° wxIcon
Hi: 59° Lo: 35°
Feels Like: 53°
Marshall
Few Clouds
53° wxIcon
Hi: 59° Lo: 34°
Feels Like: 53°
Sunny and cool today.
WTHI Planner
WTHI Temps
WTHI Radar

WTHI Events