Gov. J.B. Pritzker’s office is using a major capital bill as a vehicle to grease lawmakers for a progressive income tax amendment. But the tax hikes to pay for it would make Illinoisans’ gas tax burden the second highest in the nation.
Illinois can do it the old way and raise taxes to deliver pork projects. Or Illinois can be smart and make each tax dollar work hard to deliver projects that help residents and the economy.
An Illinois House bill that would allow more education funding dollars reach the classroom before getting trapped in administration has earned support from both parties – and the opposition of administrators.
More than 25% of state revenue already goes to pensions and retiree health care, but Illinois would need to double that to fully fund promised benefits at current levels.
While New York lawmakers have agreed to make the state’s 2% temporary limit on property tax levies permanent, Illinois should take reform farther by enacting a freeze on levies and giving local governments the ability to rein in their spending.
Facing down a $3 billion deficit, Illinois Gov. J.B. Pritzker offered an unbalanced budget including more tax hikes, borrowing and spending. He claimed severe cuts were the only alternative, but another option exists.
Illinois’ business tax climate would rank ahead of only California and New Jersey under a progressive tax. Hurt small businesses, and you hurt the jobs market.
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.