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Governor Pritzker Predicts Painful Cuts After Fair Tax Proposal Failed

FILE - In this March 7, 2019, file photo, Gov. J.B. Pritzker outlines his plan to replace Illinois' flat-rate income tax with a graduated structure at the State Capitol in Springfield, Ill. Both sides in the debate over changing Illinois' income tax system from a flat-rate to a graduated structure, which voters face on this fall's election ballot, have straightforward arguments. (AP Photo/John O'Connor File)

Illinois Governor JB Pritzker is issuing a serious warning after his graduated income tax plan failed on Election Day. He says now the state is in a tough financial situation. Pritzker added that if the proposal had been approved it would have brought in more than three billion dollars in much-needed revenue each year. Critics of the tax plan say it would have hurt small businesses.

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