Illinois House Joint Resolution Constitutional Amendment 21 will create an additional 3% tax on net income of more than $1 million and is expected to generate more than $3 billion in additional tax income for the State of Illinois. According to the amendment, 50% of that new money would go directly to Illinois public schools and 50% would go toward property tax relief.

We believe any school funding should be distributed fairly through the state’s evidence-based formula to ensure equity across districts. More school funding means we will have the funding to fully support our students, pay our teachers and school staff a living wage and provide fair benefits to all school employees.

• Currently, 80% of schools are underfunded in Illinois, despite the fact the state passed an equity-based funding formula in 2017.
• That formula has been consistently underfunded since its passage.
• The tax is expected to bring in more than $3 billion – 50% of which would go to public schools and 50% of which would go to property tax relief.The proposed legislation would apply only to NET INCOME greater than $1 million in a taxable year.
• Illinois is one of only 15 states in the nation that taxes the state’s lowest earners at the same rate as its highest earners — 4.95%.
• Property taxes fund a variety of government entities, but the bulk of local property taxes goes toward funding public schools. The constitutional amendment would provide property tax relief, in addition to increased funding.
• In Massachusetts, a similar tax was earmarked for schools and infrastructure. As a result, all students receive free meals, every resident is afforded a free education at community colleges. The number of millionaires in the state actually INCREASED after the tax was enacted.
• Illinois residents said in the State of Education in Illinois bipartisan poll conducted in January that they understand the quality of their schools has a direct impact on the value of their homes and that the quality of public schools helps influence where they choose to live and stay.
• In addition, that same poll indicated that 69% of Illinois residents would like to see funding for schools increase.
• The Illinois Economic Policy Institute released a report in early April saying a tax structured like this could help to solve the state’s PreK-12 funding problems.
• Increased funding could help pay for many of fixes and programs our members have been fighting for in recent years, including Tier Two pension changes.

Tell your state representative: vote YES on the millionaires’ tax!