While J.B. Pritzker has not released a detailed tax plan of his own, reasonable cost estimates suggest the tax hike required to pay for the candidate’s spending promises would require doubling Illinois’ state income tax rate and cost the state an estimated 132,000 jobs and $31.3 billion in forgone GDP.View Report
Senate Democrats killed a chance this week to rein in government spending, instead siding with government unions that prioritize their own power over the fiscal health of the state. Illinois taxpayers pay nearly $15,000 per state worker in health care costs alone under the most recent contract with the American Federation of State, County and Municipal Employees.
Following their colleagues in the House, 19 members of the Illinois Senate have signed on to a resolution opposing a progressive tax in Illinois.
Despite calls for new taxes from Republican lawmakers, Senate Bill 2216 contains funding for several grants across the state.
Only in Illinois could a budget deal that hits struggling Illinoisans with billions in new taxes be called a “grand bargain.”
Illinois has racked up $14 billion in unpaid bills.
As pressure mounts on state senators and representatives to vote in favor of multibillion-dollar tax hikes, lawmakers should remember the promises they’ve made to taxpayers.