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.

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.

(3) comments

atlasshrugged

I thought we had a tax code already in place? When did it become fair to change the rules and make the tax code even more punitive for those who succeed?

Klaatu
Klaatu

Of course it will easily pass since people with an income of a million dollars are a very small percentage of the voting public. When do we talk about limiting the growth of government?

Gladweleft

Democrats love this as it forces successful people to pay for expenses of others less successful. After all it's not fair that everyone isn't a millionaire so the least we can do is to punish the ones who are.

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