Posted on 06/08/2024 6:22:01 AM PDT by AT7Saluki
Now law is the $750 million in tax increases to fund Illinois’ largest spending plan in state history. But so is a measure increasing the state’s debt by $8 billion while giving schools more taxing authority. Pritzker signed the $53.1 billion budget Wednesday. Friday, he signed the tax measure that includes capping the credit businesses can get for claiming net operating losses and capping the discount retailers get for collecting and remitting sales taxes.
Hours later, Pritzker defended another tax increase, the tiered tax on sports betting companies. “In fact, if you look at what we did, really our focus was on asking people who can, companies that can pay more to pay more,” Pritzker said.
Pritzker also signed the bond authorization measure Friday. State Rep. Tom Weber, R-Lake Villa, said House Bill 4582 not only puts taxpayers $8 billion in more debt, it also allows local school boards to increase property taxes without a referendum. The bill synopsis states “beginning September 1, 2024, no referendum shall be required to build or purchase a building for school classroom or instructional purposes if, prior to the building or purchase of the building, the board determines, by resolution, that the building or purchase will result in an increase in pre-kindergarten or kindergarten classroom space in the district.”
(Excerpt) Read more at justthenews.com ...
Gives more power to the education establishment. Parasites.
Pri¢kster
They’ve ruined the country and bankrupted us.
Sports betting companies get brunt of the increase. How many can there possibly be?
The state of Illinois is a disaster. If the big cities (Chicago mostly) went away, it would improve beyond belief.
Democrats CANNOT LOSE ELECTIONS because it is absolutely necessary for us taxpayers to bail out their clueless and corrupt blue state governments. We also have to bailout their bankrupt union pensions.
That is why they’ll cheat or whatever necessary to win elections.
Illinois Gov. Pritzker enacts $750 million tax increase bill in the hopes that the new taxes will encourage Illinois citizens to stay.
Raising taxes, rather than reforming the manner in which government appropriates money, is a sure ticket to eventual bankruptcy of any government. The increased levy NEVER provides the desired revenue, and may in fact, end up by making the deficit even larger.
People live by incentive, and increasing the tax burden is certain to destroy that incentive. It has been shown, over and over, that, perversely, REDUCING the rate of the taxation, yields the benefit of INCREASING the overall revenue taken in by taxation.
The Leeching Illegals need the money to send to their home countries
Just moved out to Iowa. We love the friendly people, slower pace and conservative politics.
The biggest thing I saw was that businesses can’t write off all of their losses. That means that accounting does not apply in Chicago...I guess Pricker figures that the businesses should learn to not lose in the future. Don’t expand. Don’t hire. Just don’t spend money except for taxes. That really stimulates doesn’t it?
Gotta find new revenue streams to pay for all the uneducated, destitute, unemployed illegals that have flooded into the state - and are still coming.
Asking? IOW "From each according to his means."
The state is $156B in debt and that number grows by $65B per year.
What could possibly go wrong?
Will the last sentient creature fleeing Illinois please turn out the lights?
They get what they vote for
I wonder when they are going to raise taxes just to pay their pension fund, where the money was spent and they are going to have to pay for all those retires that earned their pension.
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