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.