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Illinois House approves ‘millionaires tax’ proposal

Published: Saturday, May 24, 2014 1:15 a.m. CDT

SPRINGFIELD (AP) – A renewed effort to tax the state’s millionaires has passed the Illinois House.

The chamber Friday approved the legislation sponsored by Democratic House Speaker Michael Madigan by a 64-46 vote. 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. The measure now heads to the Senate.

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