An idea for a financial transaction tax on various financial exchanges as a way to shore up more taxes doesn’t seem to be going anywhere.
Democratic Representative Mary Flowers says her idea of a financial transaction tax could generate billions of dollars a year, something she says would help fix Chicago Public Schools and other issues where state funds aren’t available.
Governor Bruce Rauner said such a tax would force the affected exchanges out of Illinois. Rauner says there are a couple of options Chicago has for their public school system.
Flowers’ House Bill 106 was introduced over a year ago and remains in the Rules Committee with the Chicago Democrat as the only sponsor.