House Speaker backs millionaires tax, but Democrats split over how much to devote to property tax relief – WBEZ (Chicago)

Illinois House Speaker Emanuel “Chris” Welch says he favors a proposed 3% tax on those making more than $1 million a year, with at least some of the proceeds going toward property tax relief.One of the proposed amendments would allocate all of the potential $4.5 billion yearly windfall toward property tax relief in the form of $1,500 rebates per property owner. A competing plan would allocate half of the millionaires tax’s proceeds to public schools and the rest toward property tax relief.
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Deb
2 days ago

Are they going to tax Pritzker’s off shore accounts?

Charles Johanns
2 days ago

If the Democrats do a trifecta and win House, Senate and White House in ’28, watch for a move to limit people’s ability to flee states like Illinois and California for lower tax areas. That’s one reason it’s so insane for Republicans to end the filibuster.

Media Scrutiny
1 day ago

The Democrats are Already on the record that They would end the Filibuster if they gain control of the US Senate. So, should Republicans wait and see if they’ll follow through with that threat?

The Railroader
2 days ago

I can hear the moving vans warming up.

Illinois elects its dumbest.

Jeff
2 days ago

Will I get the $1,500 property tax relief on each of my rental properties, or only on the home we reside in? And will any money directed to schools be offset by reduced school spending from other funding sources, like they did in the lottery scam?

Call my shrink
2 days ago

And what happens when…lets say the millionaires move ? I would

Fed up neighbor
3 days ago

Welch is just another Madigan stooge, big hero hey Welch

Free at Last
3 days ago

Is this called the “Just shut up and turn it over law?” Good slaves that you are. By the way, how are you defining millionaire?

Free at Last
3 days ago

Great Idea. Please do it. It’s not like the millionaires could move or move their businesses. Why would they when they have all the benefits they are getting from Illinois, especially unlimited homeless encampments in their neighborhoods.

Sanity please
2 days ago
Reply to  Free at Last

Please don’t forget being composted into
mushroom fertilizer when you die, steak
sauce anyone?

mqyl
3 days ago

So, “Chris” said there’s an affordability crisis for Illinois residents. If this passes, there will be more of a crisis for the ones remaining. Who’s going to make up the tax revenue loss of all the affluent who leave?

mqyl
3 days ago

I’m sure the $4.5B annual “windfall” considered all the affluent who will leave Illinois, right? Right?

I also like the $1,500 rebate per property owner to entice the goofs to vote for this.

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