The biggest change just passed in Illinois is an increase in income taxes.  Under the plan, Illinois's one-rate individual income tax will rise from 3% to 5%, a 67 percent increase.  The income tax increase will be retroactive to January 1, 2011.  After four years, the individual income tax will decrease to 3.75%. Then in 2025, the individual income tax rate will drop to 3.5%.  Legislators are expecting that the increase will bring in over $6 billion in revenue to the state, who has been way overbudget for many years.

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