After 10 years, will Illinois implement a millionaires' tax?

After 10 years, will Illinois implement a millionaires’ tax? – Chicago Sun-Times

A vote on amending the Illinois Constitution, similar to the fight in 2020 over the graduated income tax amendment, would likely attract more interest than an advisory referendum. A high-profile campaign could yield a result that contradicts those of the referendums. Still, supporters are working to get Springfield to take action and put a constitutional amendment on the ballot in 2026.

After 10 years, will Illinois implement a millionaires' tax?

In 2024, former Gov. Pat Quinn found himself with a case of déjà vu.He was campaigning across Illinois, urging voters to approve a ballot referendum recommending a 3% surcharge on incomes above $1 million.It was all so familiar to Quinn, and with good reason: He'd championed an advisory referendum for the exact same proposal a decade earlier. And though it was supported by voters back then, the Legislature did nothing. Now, Quinn is back at squa…

After 10 years, will Illinois implement a millionaires' tax? | Illinois State Bar Association

After 10 years, will Illinois implement a millionaires' tax?Twice in the last decade Illinois voters have approved advisory referendums recommending a 3% income tax surcharge on millionaires. The path forward after voters approved the referendum again last month remains uncertain. Source: Chicago Sun

After 10 years, will Illinois implement a millionaires’ tax?

In 2024, former Gov. Pat Quinn found himself with a case of déjà vu. He was campaigning across Illinois, urging voters to approve a ballot referendum recommending a 3% surcharge on incomes above $1 million. It was all so familiar to Quinn, and with good reason: He’d championed an advisory referendum for the exact same proposal a decade earlier. And though it was supported by voters back then, the Legislature did nothing. Now, Quinn is back at s…