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 The current proposal increases the
personal income tax rate to 4.95 percent from the current 3.75 percent rate. The
corporate income tax rate rises to 7 percent from the current 5.25 percent rate.
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The proposal also expands the sales tax to laundry and dry-cleaning services, as
well as storage and other services to bringing in an estimated $300 million.
Illinoisans will also pay an estimated $54 million in new cable and satellite TV
taxes.
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