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Pritzker unveils tax calculator

Tuesday, Mar 12, 2019

* Gov. Pritzker’s office has a new online calculator to help you figure out what your taxes would be under his progressive tax proposal. Click here to see it.

The Tribune also has a new online calculator, but its calculations don’t include the new $100 per child tax credit or the increased property tax credit, so it’s less useful. However, the Tribune’s calculator gives you your total bill (although flawed), while the governor’s calculator only tells you how much less or more you’ll pay.

…Adding… Press release…

After unveiling his fair tax proposal that gives relief to 97 percent of taxpayers, Gov. Pritzker launched a Fair Tax Calculator today to let Illinoisans see how the fair tax will affect their families.

The Fair Tax Calculator is available at www.illinois.gov/FairTaxCalculator.

“As I said throughout the campaign, Illinois’ flat tax system is regressive and unfair to the middle class and those striving to get there,” said Gov. JB Pritzker. “People like me should pay more and people like you should pay less. Simple. That’s what the fair tax will do.

“As we negotiate this proposal with the General Assembly and ultimately ask the people of Illinois to decide, my administration is committed to being fully transparent and giving residents the tools they need to understand this proposal. To that end, I’m proud to introduce the Fair Tax Calculator. This calculator will allow every taxpayer in Illinois to calculate exactly what the fair tax will mean for them and their family.”

In addition to shifting from a regressive flat tax to a fair tax, Governor Pritzker’s proposal would increase the property tax credit by 20 percent and institute a new $100 per child tax credit.

Users can input their income, filing status, exemptions, dependents, property tax paid and K-12 expenses to calculate how the fair 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. In some cases the reduction will be nominal; in others, it will result in several hundred dollars.

“Illinois’ unfair tax structure forces the lowest earners to shoulder a greater tax burden than higher earners, but Gov. Pritzker’s plan will make the wealthy pay their fair share,” said William McNary, c0-director of Citizen Action/Illinois. “When the top 1 percent who make more than $537,800 a year pay just 7.4 percent of their income in taxes while the lowest 20 percent of earners making less than $21,800 a year pay 14.4 percent, the time for change is now.”

“Working families across the state will benefit from Gov. Pritzker’s fair tax plan that gives 97 percent of taxpayers relief and returns fiscal stability to Illinois,” said Bob Reiter, president of the Chicago Federation of Labor. “We must put the days of governing by crisis behind us and institute a fair income tax that ensures state government can adequately serve the people.”

“Gov. Pritzker is making good on his promise to make our state a better place to live for working families,” said Carole Pollitz, a business agent with IBEW Local 134. “Raising wages and reducing taxes on the middle class gives the average Illinoisan a break and benefits our entire state in the process.”

- Posted by Rich Miller        

32 Comments »
  1. - f - Tuesday, Mar 12, 19 @ 8:24 am:

    Precise tax change information from the governor’s office or incorrect and misleading information from the Tribune. Think I will go with the gov on this one.


  2. - benniefly2 - Tuesday, Mar 12, 19 @ 8:27 am:

    Pretty easy to use if you have a copy of your 2018 return handy. We would save $124, which beats the increase I thought we would have prior to the release of the proposed tax brackets.


  3. - Iggy - Tuesday, Mar 12, 19 @ 8:29 am:

    I did the JB calculator and man am I stoked.

    my savings will be 116 dollars. a whole 116 dollars. I am so excited I can’t wait for the progressive tax.

    this is how they think people will react. the truth is my property taxes in rural Kane county are still crushing me and others around me, and the astounding sum of 116 dollars does nothing to address the structural failure of our insane property taxes.


  4. - PublicServant - Tuesday, Mar 12, 19 @ 8:30 am:

    So, Tribune trying to mislead again. Shocker.


  5. - Honeybear - Tuesday, Mar 12, 19 @ 8:32 am:

    What’s the deal with the calculator arms race here? Who is creating these things? Is an agency involved in this or is this an outside company and or group? I just wish he’d spend more time getting the agencies back on their feet.


  6. - PublicServant - Tuesday, Mar 12, 19 @ 8:33 am:

    ===the truth is my property taxes in rural Kane county are still crushing me and others around me, and the astounding sum of 116 dollars does nothing to address the structural failure of our insane property taxes.===

    And your property taxes have nothing to do with state income taxes. Talk to your locally elected officials about them. Quit trying to conflate the two.


  7. - Rich Miller - Tuesday, Mar 12, 19 @ 8:34 am:

    ===nothing to address the structural failure of our insane property taxes===

    True. But a big reason your local taxes are so high is because state dollars are so scarce. Money’s gotta come from somewhere.


  8. - Hamlet's Ghost - Tuesday, Mar 12, 19 @ 8:36 am:

    === my savings will be 116 dollars. a whole 116 dollars. ===

    Don’t forget this proposal allows the state to reduce the structural deficit AND give you a small tax break.

    JB’s proposal allows Illinois to better solve its fiscal woes without taxing YOU more. Why is that a problem?


  9. - Rich Miller - Tuesday, Mar 12, 19 @ 8:36 am:

    ===property taxes have nothing to do with state income taxes===

    Yes, they do. See my above comment.


  10. - Skeptic - Tuesday, Mar 12, 19 @ 8:39 am:

    “my savings will be 116 dollars. a whole 116 dollars.” I know you’re being sarcastic, but you’re proving the whole point. The State would gain a lot of revenue, but your (and my) tax bill doesn’t go up. In my book that’s a win.


  11. - Moby - Tuesday, Mar 12, 19 @ 8:46 am:

    Our household income is over the $250 mark, and I’ve figured all along the progressive tax would hit us hard. Pritzker’s calculator shows our state tax decreasing $84, so I’m pleasantly surprised. The dependent and property tax credits must be offsetting the portion over $250k.


  12. - curtis - Tuesday, Mar 12, 19 @ 8:46 am:

    === my savings will be 116 dollars. a whole 116 dollars. ===

    Any politician says this out loud and you can bet it’ll be a talking point nonstop during their next campaign.

    Proof? See GOP attacks on dems in 2018 for the federal tax law.

    A cuts a cut.


  13. - Steve Rogers - Tuesday, Mar 12, 19 @ 8:55 am:

    Governor’s office calculator very easy to use. My taxes would go down $126. Iggy, if you can’t be happy about getting an additional $116 in your pocket while simultaneously fixing our state’s long-time revenue problem, then you’re really missing the bigger picture here.


  14. - Demoralized - Tuesday, Mar 12, 19 @ 8:59 am:

    ==does nothing to address the structural failure of our insane property taxes==

    If you want that addressed you are going to have to pay higher income taxes. You can’t have both lower income taxes and lower property taxes. The math doesn’t work.


  15. - Skeptic - Tuesday, Mar 12, 19 @ 9:11 am:

    “does nothing to address the structural failure of our insane property taxes.” Right, because term limits and RTW are the answer, right?


  16. - Jibba - Tuesday, Mar 12, 19 @ 9:11 am:

    ==does nothing to address the structural failure of our insane property taxes===

    Only the state can solve the state’s financial problems, so they need to take priority. Property taxes are only indirectly affected by the state’s lack of education funding, and may have other partial solutions to be done locally. Therefore, JB needs to stay in his lane and solve the state problems first. There is not enough revenue to do both right away. The credit agencies won’t change our ratings if we help property taxes yet fail to solve the state problems.


  17. - City Zen - Tuesday, Mar 12, 19 @ 9:21 am:

    Changing my filing status doesn’t change my tax liability.

    Can I use different filing status between federal and state tax returns? If not, there is a Marriage Tax.


  18. - Demoralized - Tuesday, Mar 12, 19 @ 9:24 am:

    ==here is a Marriage Tax==

    Nobody has been able to sufficiently explain how this is a marriage tax. I don’t see it. So show your math as to how this equates to a marriage tax. It doesn’t.


  19. - Chicago Cynic - Tuesday, Mar 12, 19 @ 9:25 am:

    I love that they’re leaning in on this. The more they educate voters on what this really means the more support they’ll get.


  20. - City Zen - Tuesday, Mar 12, 19 @ 9:44 am:

    ==Nobody has been able to sufficiently explain how this is a marriage tax.==

    Go to JB’s site and input one return with $200,000 in income or two returns with $100,000.

    Married jointly at $200,000: “Your total taxes owed will decrease $65 under the Fair Tax”

    Single at $100,000: “Your total taxes owed will decrease $64 under the Fair Tax”

    $64*2=$128. $128 > $65. Marriage Tax.

    That’s assuming I can’t file married separately on my state return and married jointly on my fed return. If so, I’m fine.


  21. - Demoralized - Tuesday, Mar 12, 19 @ 9:50 am:

    City Zen

    I still fail to see how you determine it’s a marriage tax. But if that’s what you want to believe then I guess whatever.


  22. - Blue Dog Dem - Tuesday, Mar 12, 19 @ 9:56 am:

    To The Pritzker Team:

    How much of the estimated revenue increase of $3.4 billion comes from corporate vs individual.

    Thank you,
    BDD


  23. - City Zen - Tuesday, Mar 12, 19 @ 10:03 am:

    Demo - Is marriage penalty better?

    Does a married couple earning $75,000 each deserve the same tax treatment as a single filer making $150,000?


  24. - Demoralized - Tuesday, Mar 12, 19 @ 10:13 am:

    You say it’s a marriage penalty. That’s your take. I disagree with your assertion that there is a marriage penalty. Just because you decree it doesn’t make it a fact.


  25. - Nick Name - Tuesday, Mar 12, 19 @ 10:31 am:

    ===my savings will be 116 dollars. a whole 116 dollars.===

    If you don’t want it, I’ll take it.


  26. - Nick Name - Tuesday, Mar 12, 19 @ 10:35 am:

    ===the astounding sum of 116 dollars does nothing to address the structural failure of our insane property taxes.===

    Research states with low property taxes and it’s a safe bet than each one of them has higher income taxes than Illinois. It’s always a trade-off. Also, in states with low property taxes, it’s a safe bet that the bulk of education funding comes from the state, not local sources. Once Illinois (hopefully) does the same, watch your property taxes go down.


  27. - Rich Miller - Tuesday, Mar 12, 19 @ 10:36 am:

    ===each one of them has higher income taxes than Illinois===

    Maybe. My bet is on pension costs, state and local.


  28. - City Zen - Tuesday, Mar 12, 19 @ 10:37 am:

    ==You say it’s a marriage penalty. That’s your take.==

    And Wikipedia’s. And Investopedia’s. And the U.S. Treasury’s.


  29. - Huh? - Tuesday, Mar 12, 19 @ 10:43 am:

    “a whole 116 dollars.”

    His week will be complete because he can buy 2 donuts a week at Casey’s to go along with cup of coffee.

    I am underwhelmed and unimpressed at the supposed middle class tax relief.


  30. - 37B - Tuesday, Mar 12, 19 @ 4:38 pm:

    My “savings” also are negligible ($65). I think that the state tax return should include a box to check for “Oh, why don’t you just keep it.” How much would that bring in?


  31. - Person 8 - Tuesday, Mar 12, 19 @ 6:20 pm:

    “a whole 116 dollars.”
    and yet, if it raised your taxes by $116, we would hear how it’s crushing the middle class, and those living paycheck to paycheck cannot afford it ect…..

    I just had a convo with my parents(recently retired) about when this gets on ballot. At first they were all up at arms, then I kindly explained, that this is a great alternative to taxing their retirement income. While not a real political threat, it could be used as one.

    on that note, I was checking the google and couldn’t find anything but has someone tried taking the state to court on retirement income not being taxed?


  32. - Rabid - Tuesday, Mar 12, 19 @ 9:00 pm:

    Don’t buy donuts, use it fr property tax relief


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