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Thu May 22, 2014
Speaker Wants 'Millionaire Tax' Referendum
House Speaker Michael Madigan wants voters to weigh in on his so-called "millionaires' tax" at the November elections.
The referendum would ask if income greater than a million dollars should be taxed an additional three percent, with the money going to schools.
Earlier this year, Madigan tried to put this before voters as a constitutional amendment, but he says there wasn't enough support in the House.
"Consequently I'm offering this advisory question, which, if successful, would help in the next session of the General Assembly to actually pass a constitutional amendment," Madigan said.
This is the second non-binding referendum Madigan wants on the ballot. Another would ask voters whether Illinois ought to raise the minimum wage to ten dollars an hour.
If all the pending proposals are approved, voters would face at least six questions on the November ballot.