Madigan reintroduces Illinois millionaire tax idea - New York News

Madigan reintroduces Illinois millionaire tax idea

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SPRINGFIELD, Ill. (Associated Press) -

A renewed effort to tax the state's millionaires has advanced in the Illinois Legislature.

A House panel on Thursday approved the legislation by a 6-4 vote. Democratic House Speaker Michael Madigan is the sponsor. The proposal would place a non-binding resolution on the November ballot asking voters if the Illinois Constitution should be amended to add a 3 percent surcharge to incomes of more than $1 million.

An earlier effort to amend the constitution failed last month when Madigan was unable to get enough backing in the Democrat-controlled House.

Madigan says the ballot initiative will help build support for the proposal in the Legislature next year.

Lawmakers also are considering a ballot resolution asking voters if they support a hike in the state's minimum wage.

Republican gubernatorial candidate Bruce Rauner says efforts to put a millionaires' tax on the November ballot in Illinois don't "mean much."

Rauner told reporters Thursday after a speech to Chicago's Chinatown Chamber of Commerce that such referenda are a failure of leadership and lawmakers should focus on cutting the spending burden on taxpayers. Rauner also says his spending plan will be unveiled soon.

The bill is HB3816.

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