Madigan postpones millionaire tax bill after failed vote

SPRINGFIELD, Ill. (AP) — Illinois House Speaker Michael Madigan’s effort to impose a new income tax on millionaires has stalled. The powerful Chicago Democrat postponed the measure Thursday after a vote failed to produce needed 71 votes. Three House Democrats voted against Madigan’s measure. It wasn’t immediately clear if the effort would see another House vote. The attempt comes as Madigan has tried to put pressure on Gov. Bruce Rauner during a budget impasse by scheduling votes on the Republican’s pro-business priorities. The question on the millionaires tax would ask voters in November 2016 if the state constitution should be amended to add a 3 percent surcharge to incomes of more than $1 million. Voters overwhelmingly favored the idea in a non-binding ballot question last fall.