Ford Continues to Push for the Millionaire Amendment to Provide Real Relief to Working Families

SPRINGFIELD – To help reduce the property tax burden on Illinois residents, state Rep. La Shawn K. Ford, D-Chicago, is spearheading an effort to levy an additional 3% income tax on those who make more than $1 million annually.

“As prices continue to rise and our economy reels from federal policies, it is critical for the state to use its authority to ease the tax burden on our residents,” said Ford. “Voters in 2014 and 2024 supported nonbinding versions of this question, and I’m confident they will support a binding version this year.”

Ford’s House Joint Resolution Constitutional Amendment 26 would bring the question of whether those earning more than $1 million annually should pay an additional 3% in income taxes to voters. If approved in the upcoming general election, the Illinois Constitution would be amended.

According to the nonpartisan Illinois Economic Policy Institute, the additional 3% tax would generate about $4 billion in state revenue and reduce property tax bills by up to 20% each year.

“Illinois has one of the most regressive tax structures in the nation, with lower-income households feeling a disproportionate tax burden,” said Ford. “It’s time for millionaires to pay their fair share and for the state to provide real relief to working families.”

At a recent press conference in support of the amendment, former Gov. Pat Quinn said, “This is a way for everyday people to have an affordability amendment on the ballot that they can vote for and send instructions to all the politicians in Illinois that we need property tax relief right now.”