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

in Local

Madigan Files Pension Appeal

state_capitol_3

Attorney General Lisa Madigan has filed official notice with the Supreme Court that the state will appeal a ruling that Illinois' landmark pension overhaul is unconstitutional.

in Local

Chicago Couple Sues Aviation Company Over Crash

local_news_generic

A Chicago couple is suing the owner of a small cargo plane that crashed into their home.

in Local

$4.5 Million Headed To Illinois Food Banks; Springfield Included

foodbank

The state is giving nearly $4.5 million to eight food banks across Illinois for modernization.

in Local

Flyers: Know Your Rights!

airport

Financial hurt for airlines who keep you on the tarmac