‘No new income taxes’ says Pritzker in annual Illinois budget address

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SPRINGFIELD, Ill. (WTVO) — Illinois Gov. JB Pritzker pledged not to raise income taxes in 2021 at his annual “State of the State” budget address on Wednesday.

The proposed budget would end $1 billion in giveaways to corporations, strengthen safety net services for all Illinois residents, direct federal funding to schools, invest in economic development and infrastructure, and fund criminal justice reforms.

“I began working on next year’s budget by taking executive action to make cuts this year that will have the least impact on services while preventing the need for additional revenue from hardworking families, eliminating $700 million in spending in fiscal year 2021 alone,” the governor said.

“The general funds budget I present today for Fiscal Year 2022 spends $1.8 billion less than FY2021. It reflects $400 million in additional cuts to appropriations, a hiring freeze, flat operational spending, full required pension payments, and the closure of unaffordable corporate loopholes,” he continued.

The Illinois Manufacturers Association released the following statement in response: “Throughout the pandemic, manufacturers answered our nation’s call by making and donating personal protective equipment, creating life-saving vaccines and therapies, and stocking our grocery stores with safe and nutritious food. The industry stands ready to lead our economic recovery, but it’s imperative the governor and lawmakers work with manufacturers, not against us.”

Illinois’ budget office wants to target $900 million in ‘corporate tax loopholes’ to help balance the budget. Republicans called those ‘job-killing tax hikes at a time when the state needs to add jobs to help the economy.’

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