Chicago Pushes Millionaire Tax | St. Louis News

Illinois has been stuck for nearly two decades trying to pass a millionaire’s tax, despite voters approving it twice — but constitutional hurdles keep blocking it. Governor Pritzker’s plan failed in 2020, and Chicago’s mayor’s homebuyer tax proposal also lost at the ballot. Lawmakers say there’s no consensus to put it on the ballot this year — the earliest possible attempt is 2028. But Chicago’s political leaders aren’t waiting: former Governor Pat Quinn and Rep. La Shawn Ford are pushing for a non-binding referendum this fall on a 3% tax on incomes over $1 million, with proceeds aimed at property tax relief and schools. Even though the City Council rejected Mayor Johnson’s similar plan, this new effort seeks to gauge public support and build momentum — proving that while the idea resonates, turning it into law remains a tough, divisive battle. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/5cd380755e24b781