- Associated Press - Wednesday, May 4, 2016

SPRINGFIELD, Ill. (AP) - Illinois House Democrats abandoned a plan to increase taxes on millionaires if voters approved in November.

Democratic state Rep. Christian Mitchell declined to call up the bill Wednesday, effectively killing it because there won’t be enough time for the measure to clear the Senate before a Saturday deadline. Mitchell did not have enough support for the bill.

The proposal would’ve changed the Illinois Constitution so people would be taxed based on their earnings. A companion bill would’ve set the rates if voters agreed to change the Constitution.

Currently, everyone pays 3.75 percent income tax. Democrats propose to increase rates to 9.75 percent for those earning more than $1 million.

Republican Gov. Bruce Rauner opposed the plan, saying it would make it hard to keep businesses in Illinois.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide