![Non-Binding ‘Millionaire’s Tax’ Referendum To Appear On November Ballot [AUDIO]](http://townsquare.media/site/671/files/2014/07/RS4357_137541541.jpg?w=980&q=75)
Non-Binding ‘Millionaire’s Tax’ Referendum To Appear On November Ballot [AUDIO]
John Gregory -- Illinois Radio Network
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.
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