More small businesses have closed in Illinois than in any other Midwestern state, except Michigan. Taxing them more as they struggle is the wrong move.
Despite pushing hard for a progressive state income tax, Gov. J.B. Pritzker criticized the impact of the same policy at the national level for what it means for Illinois.
Illinois Gov. J.B. Pritzker and his public health chief decided their five-phase plan to lift COVID-19 restrictions needed another phase. The new phase calls for more places to open after more older residents are vaccinated, but with mask mandates.
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.
Illinois has a chance to fix its state finances, thanks to federal relief. But unless pension growth is brought under control, both retirees and taxpayers will be at risk as debt continues to consume state services.
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.
Illinois spent nearly four times faster than Bridgeview incomes grew during the past decade. A bipartisan ‘spending cap’ bill would allow predictable, sustainable growth in state spending without tax hikes.
Illinois spent over nine times faster than Harrisburg incomes grew during the past decade. A bipartisan ‘spending cap’ bill would allow predictable, sustainable growth in state spending without tax hikes.
Illinois spent nearly two times faster than Springfield incomes grew during the past decade. A bipartisan ‘spending cap’ bill would allow predictable, sustainable growth in state spending without tax hikes.