Mostly Cloudy and Breezy
48°FMostly Cloudy and BreezyFull Forecast

Madigan to reintroduce Illinois millionaire tax

Published: Thursday, May 22, 2014 1:00 p.m. CDT

SPRINGFIELD (AP) — Illinois' powerful House speaker wants to revisit an effort to tax the state's millionaires.

Chicago Democrat Michael Madigan plans to present legislation Thursday that would place a non-binding resolution on the November ballot. The resolution would ask voters if the Illinois Constitution should be amended so a 3 percent surcharge is tacked onto income of more than $1 million.

An earlier legislative effort to amend the constitution failed last month when Madigan was unable to get enough backing in the Democrat controlled House.

Madigan's spokesman says a showing of public support will help build momentum for the proposal in the Legislature.

The Legislature also is considering another non-binding ballot resolution that would ask voters if they support a hike in the state's minimum wage.

___

The bill is HB3816.

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

National video



Reader Poll

Illinois lawmakers are considering a constitutional amendment to switch from a flat income tax (same rate for all) to a progressive income tax (multiple rates that increase with wealth). What do you think?
I approve
I disapprove
Not sure
No opinion