Illinois Governor J.B. Pritzker defended his newly proposed graduated income tax plan during a visit to the Quad Cities today.
The proposed plan includes six tax brackets, with those earning less than 100,000 paying less than they do now, while those over 250,000 would face a steep increase. Critics are worried that the hike in rates will drive large businesses and investors out of Illinois.
"Because we're addressing the real issues, addressing the pension issue, addressing the fiscal challenge, businesses will want to not only stay here, but invest here, and businesses outside of Illinois will want to move here." .
Governor Pritzker is confident that the plan will be approved by the general assembly and state voters will ratify it next year.
The governor made his remarks at Moline High School after touring the technical education classrooms.