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Millionaire's Tax Would Provide Money for Schools

7/30/2014

On Tuesday, Governor Quinn signed “millionaire’s tax” legislation that will allow voters to decide whether they believe that Illinois’ wealthiest citizens should be required to pay their fair share to provide much-needed funding for public schools.

IFT was a vocal proponent of the bill, which places a question on the November 4 ballot asking voters whether the Illinois Constitution should be amended to require those who earn more than $1 million per year to pay an additional 3 percent income tax. The tax would provide an additional $1 billion annually for elementary and secondary education.

Earlier this summer the Governor also signed two key bills that will place advisory referendums on the ballot designed to benefit women and working families. If approved by voters, the IFT-supported Minimum Wage Increase Referendum Act could increase the state’s minimum wage to $10 per hour by January 2015. The Women’s Health Referendum Act could require health insurance plans that provide prescription drug coverage to include prescription birth control. The IFT also supported this important women’s health legislation.

To be approved, a three-fifths majority of those voting on each amendment or a majority of those voting in the election must vote “yes.”

Quinn’s efforts to allow taxpayers to have a voice in decisions that could increase our state’s investment in public education and benefit the middle-class are in stark contrast to the plan of his opponent in the November election. Billionaire Bruce Rauner boasts that he would work to destroy unions and eliminate the pensions that public servants have paid for and were promised. Watch this video to hear it from him.

It is critical that IFT members, our families, and friends spread the word that Rauner is wrong for Illinois. Watch this website in the weeks ahead to learn ways you can help in the fight to protect the middle-class.  


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