Illinois House Passes ‘Millionaires Tax’ Proposal

May 23, 2014

A renewed effort to tax the state's millionaires has passed the Illinois House.  The chamber Friday approved Democratic House Speaker Madigan's plan for a referendum 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 when Madigan was unable to get enough backing in the Democrat-controlled House.
Madigan says the initiative will help build support for the proposal in the Legislature next year.
But Republicans say the matter should rest in the hands of the Legislature.  The measure now heads to the Senate.

Story source: AP