Illinois Lawmaker Pushes for New Millionaire Tax

Representative Jehan Gordon-Booth seeks new revenue to address the state's multi-billion dollar education funding gap.

Updated on Oct. 22, 2026 in Financial Aid

Illinois Lawmaker Pushes for New Millionaire Tax

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Do you support implementing a special tax on millionaires to increase funding for public schools?

Illinois House Assistant Majority Leader Jehan Gordon-Booth is advocating for a new tax on millionaires to combat the state's $6.8 billion education funding deficiency. The proposal aims to secure necessary resources for schools while providing property tax relief to residents.

Why it matters

Illinois faces a looming fiscal challenge as the number of schools reaching the 90% funding adequacy threshold is projected to decline by 2027. Lawmakers argue that a targeted tax is essential to maintain the state's evidence-based funding formula and ensure consistent support for classrooms.

The Illinois State Board of Education reports a $6.8 billion funding adequacy gap across the state. Currently, the state provides $350 million in annual funding increases to schools, though many remain below the 90% adequacy threshold.

The players

Jehan Gordon-Booth

Jehan Gordon-Booth is an Illinois State Representative who serves as the assistant majority leader in the House.

The details

Implementing the millionaire tax would require a supermajority in both chambers of the Illinois General Assembly followed by a successful statewide ballot referendum. This follows a previous attempt in November 2020 where a graduated income tax proposal was rejected by voters.

2018: The current evidence-based funding formula was implemented.
November 2020: A graduated income tax proposal failed via ballot referendum.
2027: The count of adequately funded Illinois schools is expected to fall.

Culture Shift

This legislative push mirrors the ongoing struggle to balance fiscal sustainability with the state's 2018 evidence-based funding formula. It reflects a broader shift as state leaders attempt to address funding deficits without relying on previous failed tax strategies.

The proposed tax could potentially lower individual property tax burdens for Illinois residents if successful. However, the shift depends on future legislative votes and an eventual statewide referendum outcome that remains uncertain.

The takeaway

Tax proposals targeting high-income earners remain a primary point of friction in Illinois fiscal policy. Residents should monitor upcoming legislative sessions to see if these efforts gain the necessary support to reach a public vote.