Illinois Democrats again will be unable to meet a self-imposed deadline for approving a state spending plan as Gov. J.B. Pritzker faces pushback on proposed tax hikes
People talk outside the House Chamber while legislators are in session on Feb. 20, 2024, at the Illinois State Capitol. SPRINGFIELD — Despite their iron-clad control in Springfield, Illinois Democrats for the second straight year will be unable to meet a self-imposed deadline for approving a state spending plan as Gov. J.B. Pritzker faces pushback from his own party on more than $900 million in tax hikes that he says are needed to balance his proposed $52.7 billion election-year budget.
“I’m afraid that we’re making decisions now, today, that are going to complicate things next year. So rather than using all these revenue enhancements this year, I’ve suggested, maybe use one or two, make some cuts, and save some of those tools for next year when you know we’re going to have to come up with additional revenue,” Democratic state Rep. Fred Crespo of Hoffman Estates said.
Metro East is home to two entertainment venues that both recently changed their names to reflect the importance of sports wagering to their business: DraftKings at Casino Queen in East St. Louis and FanDuel Sportsbook & Horse Racing in Collinsville, formerly Fairmount Park. “This is why we’re burning the midnight oil,” Belt said. “And again, it’s the governor’s proposal. So he’s open, probably, to maybe suitable alternatives and that’s what we’re looking for now.”
“For an industry to be in its nascence and to have a business model that increases the taxes by 100% in four years isn’t a good signal to other businesses that might want to come to Illinois,” Tarver said. The Sports Betting Alliance, which represents sportsbooks, takes the opposite view, arguing that Illinois’ lower tax rate allows the companies to offer better odds and promotions that draw gamblers away from illegal bookies.
Also on the table is a proposal from Pritzker that would extend a cap on losses large corporations can write off on their state income taxes, which the governor estimates would bring in $526 million in revenue. Like almost everyone outside the Democratic caucus, including the press and the public, House Republicans were still waiting Thursday to see the Democrats’ spending plan.
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