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Illinois flat tax vote8/29/2023 The PAC’s ads were deceptive and rife with scaremongering. He funneled $54 million of his own cash into the public campaign to stop the amendment, much of it through the Coalition to Stop the Proposed Tax Hike Amendment committee. In Illinois’s electoral version, the Citadel CEO matched Pritzker nearly dollar for dollar and wasn’t afraid to play dirty. ![]() ![]() The last time two tycoons faced off head-to-head in a Battle of the Billionaires, Donald Trump got the better of Vince McMahon at WrestleMania 23. Pritzker pitched the new tax system as a way to boost the state economy while making it “more fair for working people.” The governor, a billionaire heir to the Hyatt Hotels fortune, even played the role of class traitor by spending $56 million of his own wealth to campaign for it. Pritzker had called for a slight increase in the current flat rate of 4.95 percent for the estimated 189,000 taxpayers earning over $250,000 a year. On Tuesday, Illinois voters defeated the Fair Tax amendment, which promised to alter the state constitution so that legislators could legally implement a progressive income tax. So, he almost single-handedly bought a state election. To Griffin, the burden of Illinois’s staggering financial crisis should remain squarely on the shoulders of workers. The billionaire hedge fund manager wasn’t thrilled about the idea of paying an additional 3 percent in taxes on his estimated $1.5 billion annual income.
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