According to the information posted at the Illinois Policy Organization:
Illinois Gov. J.B. Pritzker will set another state record if his $52.7 billion budget for 2025 is passed. He described it as “tight” as well as “focused and disciplined.”
But it relies on $898 million in new taxes. It is nearly $13 billion more than the state budget when he took office.
So, yes, it’s focused and disciplined – as much as sailors on leave.
Here’s a look at the details, winners, losers and those who will be left wounded.
Revenue
Illinoisans should be most cautious of the call for massive tax hikes, $898 million to be exact, on corporations, retailers, sportsbooks and even individual taxpayers. While the governor specifically singled out his proposals to create a state-level child tax credit and eliminate the state’s grocery tax – revenue that goes entirely to local governments – in his address Feb. 21, he failed to mention that in total his series of proposals would substantially raise taxes for Illinoisans.
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