Chicago City Wire

With approximately 60% of the statewide votes counted, a significant majority of Illinois voters, 61.1%, have shown support for the non-binding "millionaire tax" question. This approval could potentially lead to changes in Illinois' income tax structure from a flat tax to a progressive system.

In Barrington Township, voters have expressed their interest in constitutional pension reform, with 73% voting "yes" and 27% voting "no," according to complete precinct reports.

Matt Paprocki, President and CEO of Illinois Policy, provided his perspective on these developments:

Regarding the "millionaire tax" advisory question, Paprocki stated: “Voters have made it clear they have had enough of rising property taxes. They deserve meaningful relief that goes beyond lip service. But hiking taxes on millionaires would not accomplish anything except drive jobs and investment out of Illinois and open the door to further tax increases."

He further commented on the impact of such a tax: “The truth is nearly 24,000 of those ‘millionaires’ are small businesses who are vital to the state’s economy and are prolific job creators. Political leaders such as Chicago Mayor Brandon Johnson want these higher taxes to fill their own budget holes. These leaders cannot be trusted. There’s a reason a majority of Illinois voters in 2020 rejected giving up the Illinois Constitution’s flat tax protections and refused to trust state lawmakers to set progressive rates as they saw fit."

Paprocki emphasized the importance of pension reform: “The only way to truly bring relief is through constitutional pension reform, a policy that is both effective and popular. In fact, a majority of voters in Barrington Township showed their support for this reform on a non-binding referendum question this year. Political leaders should make this their top focus in 2025 when lawmakers return to Springfield.”

On the Barrington Township pension referendum, he noted: “For the first time voters were given a voice on the single-largest fiscal issue facing the state. The results show what we knew to be true: constitutional pension reform is popular among voters as a solution that protects existing retirees’ pensions while also allowing for changes in the growing pension costs."

Paprocki concluded by addressing taxpayer concerns: “Taxpayers have suffered under rising property taxes for too long. Local governments have struggled under tightening budgets as the pension crisis ballooned. This should be a rallying cry for state lawmakers to meaningfully solve the problem and protect Illinois’ future.”

Further information about these topics can be found at illin.is/Barringtonreform for the referendum details and illin.is/millionairepass for more on the ballot advisory question.