Illinois millionaire tax ballot question advances in House
SPRINGFIELD, Ill. (AP) — A House committee has approved a plan to ask voters whether Illinois should impose a tax on incomes of more than $1 million to help fund education.
The legislation passed Wednesday 8-5. It now moves to the full Illinois House.
Democratic House Speaker Michael Madigan is renewing an effort to amend the state constitution to add a 3 percent surcharge to incomes of more than $1 million.
Democratic arRW Rep. Barbara Flynn Currie says the tax could raise more than $1 billion a year for schools.
Todd Maisch of the Illinois Chamber of Commerce says the measure risks Illinois risks seeing wealthy people move elsewhere and losing revenue to other states.
Voters overwhelmingly favored the idea in a non-binding ballot question last fall.
The bill is HJRCA26.