A ‘Millionaire’s Tax’ Could Raise Billions in Annual Revenue for Illinois: Study

Source WTTW
Original Load Date April 8, 2026, 3:01 p.m.
Last Updated April 8, 2026, 3:01 p.m.
Original URL https://news.wttw.com/2026/04/08/millionaire-s-tax-could-raise-billions-annual-revenue-illinois-study

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A [ new study from the Illinois Economic Policy Institute ][20] explores how a 3% surtax on Illinois residents earning $1 million or more per year could impact the state. The study said that surtax (an additional tax above the current state income tax) would generate up to $5 billion in annual stat...