Madigan reintroduces Illinois millionaire tax idea
SPRINGFIELD, Ill. (AP) – A renewed effort to tax the state’s millionaires has advanced in the Illinois Legislature.
A House panel on Thursday approved the legislation by a 6-4 vote. Democratic House Speaker Michael Madigan is the sponsor. The proposal would place a non-binding resolution on the November ballot asking voters if the Illinois Constitution should be amended to add a 3 percent surcharge to incomes of more than $1 million.
An earlier effort to amend the constitution failed last month when Madigan was unable to get enough backing in the Democrat-controlled House.
Madigan says the ballot initiative will help build support for the proposal in the Legislature next year.
Lawmakers also are considering a ballot resolution asking voters if they support a hike in the state’s minimum wage.
The bill is HB3816.