“Fair Tax” defeated, “millionaire’s tax” advances
Thursday, Mar 27, 2014
* The House Revenue Committee has voted down a proposed constitutional amendment for a graduated income tax while approving Speaker Madigan’s “millionaire’s tax” - a three percent surcharge on income over $1 million.
Today, by the way, was the “Fair Tax” Statehouse lobby day. The group has focused more of its progressive tax efforts on the Senate, but it got a taste of harsh reality in House Revenue today. A rally is scheduled for noon.