News

Quinn Signs Millionaire Tax Referendum

Quinn Signs Millionaire Tax Referendum

Photo: Newsradio WTAX

Voters will be able to weigh in on a proposed tax on millionaires this November.

Gov. Pat Quinn has signed legislation that will put a non-binding referendum on the ballot, asking whether the state’s constitution should be amended to add an additional 3 percent tax on all income over $1 million. Quinn dismisses the argument that the real goal is to increase Democratic turnout on Election Day.

“Well I’ve been fighting for this particular reform for a long time,” Quinn said. “I think our tax system should be fair and based on ability to pay. That’s a principle as old as the Bible.”

Quinn says if the tax was put into place, it would generate an extra $1 billion annually, which would be distributed to schools based on their student population.

A bill for a similar binding referendum to amend the state’s constitution failed to gain enough support in the legislature.

Recent Headlines

9 hours ago in Local

Full Text and Audio of Obama’s Speech to Legislature

Obama Springfield 4

Click here for text and audio of President Obama's address to the Illinois General Assembly.

9 hours ago in Local

LISTEN: President Obama’s Full Speech at Hoogland Center for the Arts

Obama Springfield AP 3

Click here for President Obama's remarks at the Hoogland Center for the Arts

9 hours ago in Local

Lawmakers, Current and Past, React to Obama Speech

Obama Springfield AP

President Barack Obama visited Springfield Wednesday and had a lot to say to the General Assembly and Governor Rauner.

15 hours ago in Local

Obama: Citizens Are Turned Off By Current “Poisonous Political Climate” In U.S.

Obama speaks about the sequester in Washington

In his address, President Obama says people around the country are turned off by current "poisonous political climate."

15 hours ago in Local

Obama Reminiscing About Days In Illinois Legislature

Obama speaks about the sequester in Washington

President Obama reminisces about his days in the Illinois legislature.