Tax cuts are on the table, thanks to gangbuster revenues
No word yet on which taxes Pritzker and lawmakers are considering cutting since the state forecasting panel upped its revenue projections by a combined $1 billion.
4 comments
No. Pay off bills. Stop the insane boom and bust budgetary cycles. Don’t listen to the short sighted “business” people.
For the love of god just pay off some bills. Lowering taxes has the added detriment of increasing inflation .
Pritzker lists contributions to pension funds and Illinois' rainy day fund as well. I really support these efforts.
Re: tax cut. I think that another Back-To-School Sales Tax Holiday in August for a week would be an excellent use of Illinois' resources and directly help families and children. I hope that it is seriously considered. Would be ideal to have this permanently, but at least for 2023 if our state continues to do well.
Fund the pensions first, that will benefit all of us in the long run way more than some temporary tax cut.
I think the idea to temporarily raise taxes for 10 years and make it earmarked towards paying down the underfunded pension plans was a good starting point. To bad Pritzker seems stuck on his progressive tax plan, which I agree is also a good idea, but all avenues should be considered.