Illinois to ask voters about taxing millionaires - Fox 2 News Headlines

Illinois to ask voters about taxing millionaires

Posted: Updated:
BERWYN, Ill. (Associated Press) - 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).

The bill is HB3816.

Online: http://www.ilga.gov .

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 This material may not be published, broadcast, rewritten or redistributed.

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