SPRINGFIELD — A plan to place a nonbinding question on the November ballot asking whether millionaires should be taxed at a higher rate advanced in the Illinois Senate Wednesday.
On a 10-5 vote, members of the Senate Executive Committee positioned the measure for a vote in the full chamber in the closing days of the Legislature's spring session.
The measure would ask voters in the November election: "Should the Illinois Constitution be amended to require that each school district receive additional revenue, based on their number of students, from an additional 3 percent tax on income greater than one million dollars?"
The advisory vote is an alternative to a proposed constitutional amendment sought earlier by House Speaker Michael Madigan that failed to gain support.
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Madigan says the millionaire tax could generate an estimated $1 billion. The money would be distributed to schools on a per pupil basis.
Opponents said the proposal is flawed because the $1 million threshold does not account for inflation, meaning it could ensnare more people as wages rise over time.
The legislation is House Bill 3816.