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Illinois House Committee approves “Millionaires’ Tax”

A non-binding referendum showed 64% of voters approved of Illinois adding an extra surcharge on millionaires' income.  

The Illinois Manufacturing Association's Greg Baise says that sounds like an easy question, but it has ramifications that aren't obvious, like causing high-earners and businesses to move from Illinois.  

Baise encouraged legislators to vote against putting a binding question on next year's election ballot.

"To put this amendment, and pass this amendment onto the ballot I think will just be another nail in the coffin for job creators to want to stay in the state."

While Republicans voted against it, a House committee approved the plan.  It could generate another billion dollars a year for education. It's unclear if the measure will be called for a vote before the full House.

Amanda Vinicky moved to Chicago Tonight on WTTW-TV PBS in 2017.