Madigan renews push for Millionaire's Tax

SPRINGFIELD – Illinois House Speaker Michael Madigan says he has a plan to boost funding for schools.

He's renewing an effort to tax the state's millionaires. Madigan's plan calls for amending the state constitution to add a three percent surcharge to incomes of more than $1,000,000.

This isn't the first time Madigan has pushed for the “Millionaire's tax.” The measure failed last year when the House Speaker was unable to get enough backing.

Voters, however, overwhelmingly voiced support for the idea through a non-binding ballot question last fall.

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