News

Madigan Drops Idea for “Millionaire Tax”

Madigan Drops Idea for “Millionaire Tax”

Photo: Newsradio WTAX

Michael Madigan’s spokesman says the Illinois House speaker is withdrawing a plan to tax millionaires in the state.

Madigan blames Republicans who wouldn’t support the proposal. Brown says Republicans “prefer and protect millionaires over school children.” But Democrat state Rep. Scott Drury also expressed concerns about the plan.

Madigan wanted to put a constitutional amendment on the November ballot that would have added a 3 percent surcharge onto incomes over $1 million. He said it would raise an estimated $1 billion annually for schools. The proposal needed a three-fifths majority in both chambers to be placed on the general election ballot.

Republicans said the tax would hurt small businesses and farmers.

Recent Headlines

in Local

Sweet Corn the State Vegetable? Thank Chatham Elementary Students

5-22-15 Chatham Elementary School

It may seem like small potatoes to you, given the current state budget crisis and other matters still pending in the General Assembly, but the fact sweet corn is close to being the official state vegetable of Illinois is kind of a big deal to some.

in Local

More Legislative Jousting Ahead

Illinois Speaker of the House Michael Madigan, D-Chicago, talks from the speakers podium in the House chambers Tuesday, May 13, 2014, in Springfield Ill. The Illinois Legislature resumes work toward its end of May deadline.

Criticizes Rauner donations, then calls Radogno's barb "limp"

in Local

Bless This Boat

local_news_generic

It's National Maritime Day !!

in Local

Millionaires’ Tax Falls Short

Illinois Speaker of the House Michael Madigan, D-Chicago, talks from the speakers podium in the House chambers Tuesday, May 13, 2014, in Springfield Ill. The Illinois Legislature resumes work toward its end of May deadline.

3 Democrats join Republicans against

in Local

Butler: Campaign Donation Doesn’t Impact Relationship with Governor

Rep Tim Butler

State Representative Tim Butler got some political campaign cash from Governor Bruce Rauner.