CHICAGO — How much will Illinois' state income tax hike cost you?
The anti-tax group Illinois Policy has developed a calculator to help Illinois workers figure it out.
The Institute describes itself as "an independent organization generating public policy solutions aimed at promoting personal freedom and prosperity in Illinois." Republican Gov. Bruce Rauner has contributed more than $500,000 to the group, saying he appreciates its "free-market conservative principles.”
To generate $4.3 billion, Illinois residents will see their personal income taxes rise from 3.75 percent to 4.95 percent as the House overode Rauner's veto Thursday.
We plugged in some salaries and family sizes from the Illinois Policy calculator:
Single with no children:
$25,000: $274
$50,000: $574
$75,000: $874
$100,000: $1,174
$150,000: $1,774
Married, filing jointly, with no children:
$25,000: $248
$50,000: $548
$75,000: $848
$100,000: $1,148
$150,000: 1,748
Single with two children:
$25,000: -$2
$50,000: $299
$75,000: $822
$100,000: $1,122
$150,000: $1,722
Married, filing jointly, with two children:
$25,000: -$27
$50,000: $272
$75,000: $796
$100,000: $1,095
$150,000: $1,695
