The majority of the support for a constitutional amendment that would raise taxes on Illinoisans comes from union coffers, with nearly $5 million donated so far. Unions also funded the failed progressive tax push in 2020.
Gov. J.B. Pritzker has added more than $5.24 billion in new or higher taxes and fees since taking office. Despite all that new revenue, the nation’s highest taxed state remains a fiscal mess unable to balance a budget for 21 years.
House Bill 253 would create data-driven process for selecting future infrastructure projects in an attempt to end wasteful and politically motivated spending.
A bipartisan ‘spending cap’ bill would allow predictable, sustainable growth in state spending without tax hikes. Illinois is one of the few states without a similar fiscal restraint.
COVID-19 prompted $7.5 billion in federal relief, but state revenues were up during the past 8 months. Delayed tax due dates were partly responsible, but revenue even grew where it should have declined. So why should small businesses have to come up with $2 billion more?
Small businesses got federal tax relief to handle the COVID-19 economic downturn. Now Springfield is trying to take away the same break on state taxes, costing the state’s main job creators $1 billion with hundreds of thousands of Illinoisans still out of work.
Federal tax relief was championed so small businesses could better deal with COVID-19 economic impacts. Gov. J.B. Pritzker wants to undo that relief to keep $1 billion in state taxes from Illinois small businesses.
The budget proposal includes no reforms to pensions or other cost drivers, misleadingly labels various business tax increases as ‘closing corporate tax loopholes,’ and relies on gimmicks that conceal true deficits. And there’s a new gas tax.
Congress provided tax benefits for business losses in the CARES Act to help offset economic challenges during the pandemic. Gov. J.B. Pritzker wants to undo that relief to raise revenue for Illinois.
Illinois doubled the gas tax in 2019, which pushed it to No. 3 in the nation for highest average gas tax.