Illinois Millionaire Tax Proposal Returns to View
Advocates are pushing a 3% income tax surcharge that could eventually fund property tax relief and public schools.
Updated on Oct. 28, 2026 in Taxes
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Should states implement an additional income tax on millionaires to fund property tax relief and education?
Supporters are pushing for a proposed 3% income tax surcharge on millionaires in Illinois, with proceeds split between property tax relief and public schools. While the proposal stalled in the state legislature, the measure is currently appearing as a ballot question for voters in Cook County.
Why it matters
This initiative highlights a push to shift tax burdens and direct revenue toward local school funding and property tax relief. The proposal remains a significant focus for proponents as they look toward future legislative and electoral cycles.
The proposal calls for a 3% income tax surcharge on millionaires to fund property tax relief and public education. The ultimate fiscal impact and legislative path forward remain to be determined following the measure stalling in Springfield.
The players
Pat Quinn
A prominent political figure advocating for the millionaire tax surcharge.
LaShawn Ford
An Illinois state representative who proposed the constitutional amendment H-J-R-C-A 21.
The details
The proposal, introduced as constitutional amendment H-J-R-C-A 21, would impose a 3% surcharge on income earned by millionaires. Revenue generated by this tax would be divided evenly, with 50% allocated to property tax relief and 50% directed to public education funding. While the measure failed to advance in the spring legislative session, advocates continue to use ballot questions to build public support.
Timeline
The legislative amendment H-J-R-C-A 21 failed to advance in Springfield during the spring 2026 session.
Supporters held a press conference in Chicago on October 28, 2026, to discuss the tax proposal.
Advocates estimate the measure could potentially return for the 2028 general election ballot.
Money Landscape
The push for this surcharge reflects an ongoing state-level debate regarding the balance between income taxation and property tax relief. It follows the recent legislative failure of H-J-R-C-A 21, marking a pivot toward using direct ballot questions to influence the state's fiscal path.
Cook County residents should note that while this remains a ballot question rather than a law, the measure signals a potential change in state tax strategy that could affect future tax bills and school funding. Consult a tax professional to understand how state-level tax shifts might influence your broader financial planning.
The takeaway
The campaign for a millionaire tax surcharge highlights the tension between seeking property tax relief and increasing education funding. Households should track future state legislative sessions and local ballot developments to see if this proposal gains momentum before the 2028 election cycle.
Further reading
For more on the changing landscape of state levies, explore our guide on Taxes.
Source note: This article includes information reported by Decatur Radio.
Live Poll
Should states implement an additional income tax on millionaires to fund property tax relief and education?
