By RFD News Network
SPRINGFIELD – A proposal to add a tax to incomes over a million dollars in Illinois is moving forward in the Illinois House.
A House committee passed a bill Wednesday that would amend the Illinois constitution to add a three percent surcharge to incomes of a million dollars or more. Democrat Representative Barbara Flynn Currie said the increase in revenue would be used to fund education.
“This tax would bring in about $1 billion a year. That would translates into close to $500 per student across the public education system in Illinois,” she said.
The proposal still has a long way to go. It needs to pass the House, Senate and the Governors’ desk. Then it needs to be approved by voters on the next state wide ballot.
