Though U.S. gas prices have dropped to near all-time lows, Illinois’ state and local taxes make gas costlier in the Land of Lincoln than in neighboring states.
Gov. Bruce Rauner issued an amendatory veto nixing fee hikes from a 911 service reauthorization bill lawmakers sent to his desk, noting Illinoisans already pay some of the nation’s highest taxes on their cellphones. But those fee hikes will become law, as lawmakers have voted to override the governor’s veto.
More than a dozen Republicans joined House Democrats in passing a budget that includes a massive tax hike and no structural spending reforms. Gov. Bruce Rauner said he would veto the plan.
The Illinois Republicans’ budget proposal includes billions in tax hikes and has an ineffective spending “cap” that will likely result in deficit spending by 2020. The plan’s lack of reforms sets taxpayers up for a permanent tax hike in 2022.
Progressive tax proposals by Illinois Democrats would punish those in Illinois’ middle class who earn $50,000 or more and make the state even less competitive with its neighbors.
Despite $30 billion in extra tax revenue, the politicians who passed Illinois’ 2011 income tax hike failed to solve Illinois’ pension crisis or pay off the state’s bill backlog.
Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.