Overcast
45°FOvercastFull Forecast

Illinois to ask voters about taxing millionaires

Published: Tuesday, July 29, 2014 11:47 a.m. CST

BERWYN — Gov. Pat Quinn has signed legislation allowing voters to weigh in on whether Illinois millionaires should pay more income tax.

The Democrat signed the proposal Tuesday. It puts a nonbinding resolution on the November ballot to gauge support for tacking a 3 percent surcharge on incomes over $1 million.

House Speaker Michael Madigan — a Chicago Democrat — says it could raise $1 billion for education, or about $550 per student.

Madigan had wanted the idea proposed as a constitutional amendment. But he couldn't garner the 71-vote supermajority it needed in the House to put the amendment before voters.

Critics say it aims to drive Democrats to the polls in a hotly-contested gubernatorial race between Quinn and wealthy Republican businessman Bruce Rauner (ROW'-nur).

Get breaking and town-specific news sent to your phone. Sign up for text alerts from the Daily Chronicle.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

More News

Watch Now

Player embeded on all DDC instances for analytics purposes.

NIU-Ohio postgame: Rod Carey

More videos »

Reader Poll

What percentage of your holiday shopping will you do at locally owned stores?
Less than 10 percent
10 to 20 percent
20 to 40 percent
40 to 60 percent
More than 60 percent