Corporate Tax

The Pritzker price range plan retains spending unchanged and closes $ 900 million in authorities and political “enterprise gaps”

Rep. Sonya Harper, D-Chicago, chairwoman of the Illinois Legislative Black Caucus, said black lawmakers would work to ensure that “our most vulnerable people do not bear the brunt of the cuts in direct services and other resources needed, especially when already so many differences exist. ” for these communities. “

Pritzker proposes addressing a projected spending shortfall of $ 2.6 billion for fiscal 2022, beginning July 1, by lowering corporate tax incentives by removing approximately $ 100 million in cigarette tax revenue from the capital improvement program Be diverted to the general fund The general fund budget is $ 1.8 billion below the current spending budget for the fiscal year.

The state is benefiting from an improved federal match for Medicaid spending during the pandemic, officials said.

The governor is addressing the projected fiscal year spending deficit of $ 3.9 billion, of which $ 2 billion was due to lost revenue related to COVID-19, including cuts of $ 711 million, including a state hiring freeze, operational and grant cuts, and $ 75 million reduction in personnel costs.

The downsizing, which could include government vacation days, has yet to be negotiated with the American Federation of State, County and Municipal Employees.

The borrowing would cover most of the balance.

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