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 Music

KISS to star in new ‘Scooby-Doo’ movie

kiss

Gene Simmons, Paul Stanley, Eric Singer and Tommy Thayer have voiced themselves in the animated project.

in Music

Record Store Day celebrates all things indie

recordstoreday

Record Store Day celebrates thousands of independent music stores across America.

in Music

Rock & Roll Hall of Fame inducts its 30th class

joanjettbilliejoarmstrong

Green Day, Joan Jett, Lou Reed, Ringo Starr and others will be welcomed as the 2015 inductees into the Rock & Roll Hall of Fame.