Illinois voters have a significant question to answer this presidential election cycle: Should the General Assembly be allowed to create a marginal income tax structure for the state? Currently and since the inception of the Illinois Income tax in 1969, the state income tax rate must be flat. The Illinois Graduated Income Tax amendment repeals the flat tax guarantee and empowers the General Assembly to create rates up to 8/5ths higher for higher income Illinoisians. Is this path wise? Can the Legislature and Governor be trusted? What are the likely impacts of this new power when compared to the experience of other states?
- David Gamage, Professor, Maurer School of Law, Indiana University Bloomington
- Richard Porter, Partner, Kirkland & Ellis
- Richard Kaplan, Guy Raymond Jones Chair in Law, Illinois College of Law (Moderator)