The New Jersey Senate president is proposing solutions to the state’s pension problem. Illinois is worse off, but state leaders remain silent on reforms.
Contrary to claims from both Republicans and Democrats, and despite raising nearly $1.1 billion in new taxes and fees for operations, the fiscal year 2020 budget is out of balance by between $574 million and $1.3 billion.
A $1 cigarette tax hike included in Gov. J.B. Pritzker’s infrastructure plan will make Illinois’ tax on cigarette packs among the highest in the nation.
The Illinois General Assembly sent $85 billion in proposed spending to Gov J.B. Pritzker’s desk in a matter of days. That package included tax hikes on ordinary Illinoisans and pay raises for all state lawmakers.
Illinois Gov. J.B. Pritzker’s amendment would allow Illinois to impose an effective corporate income tax rate of up to 15.28% – the nation’s highest by far.