A tax proposal that would affect Illinoisans with incomes over one-million dollars a year is no longer in existence. House Speaker Michael Madigan withdrew his plan to tax millionaires an extra three percent on their personal income tax.
It would've generated about a billion-dollars a year had it gone into effect, and that money would've reportedly gone towards education. Republicans strongly opposed the measure. They say they're relieved the plan has been pulled back because it would've ultimately hurt families and cost jobs.