Like the “grand bargain,” the Brady plan and the Illinois Senate Democrats’ budget before it, the Illinois House Democrats’ plan relies on more than $5 billion in new tax revenues because it includes no significant structural spending reforms.
A four-year freeze riddled with exceptions won’t help Illinois homeowners. Illinoisans need a long-term freeze on local property tax levies and a cap on the tax burden for individual homeowners.
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.