Although the state budget brings in about $1.2 billion in new taxes, proponents say the taxes don't severely hit individual pocketbooks.
The $53.1 billion state budget that Illinois Gov. J.B. Pritzker signed into law this month is notable for its increased spending, something Republican critics were quick to point out.But Pritzker and the legislative Democrats who sent him the fiscal plan for the year that begins July 1 maintain it's balanced and responsible. Although it brings in about $1.2 billion in new taxes, proponents say the taxes don't severely hit individual pocketbooks.
Six years ago, budget-makers initiated the plan, although with a $100,000 cap. It, too, was a three-year plan, as was the three-year plan that replaced it."It’s $500,000. That's better than 100,000. But we wish it were unlimited," said Mark Denzler, president and CEO of the Illinois Manufacturers' Association. "We wish we could go back to where we were.
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