The state’s budget that begins next in less than a week includes taxpayer funds to “jumpstart” segments of the economy held back by Gov. J.B. Pritzker’s economic restrictions during the pandemic. But some say other areas didn’t get enough funding.
Democrats say the $42 billion state budget that begins July 1 is balanced and doesn’t increase taxes.
House Majority Leader Greg Harris, D-Chicago, praised the budget that passed along party lines, saying it does not increase taxes. But, Harris acknowledged some businesses will be paying more in taxes.
“And is done so by closing some corporate tax loopholes so that now some of the largest businesses in the country are helping pay their fair share to educate our kids, to make our communities safe, and to invest in our families,” Harris said.
Republicans say the decreased tax incentives will mean $666 million in tax increases on job creators.
“It’s a pretty frightening number to a lot of people but it’s really scary to the workers,” said state Sen. Chapin Rose, R-Mohamet. “They’re going to lose their jobs, not be rehired and as we’re coming out of COVID why on earth would you do this when you’re trying to get people back to work.”
Republicans were glad not all the Democrat-proposed cuts to tax credits passed. The school-choice credit Invest In Kids program stays intact. Rose also praised the increased funding for K-12, but said Democrats couldn’t stop spending from there.
“Your billion dollars in [American Rescue Plan Act] pork projects for capital [construction projects], your legislative pay raises,” Rose said. “They just kept going and going and going. They can’t stop. They literally can’t help themselves.”
Republicans have also been seeking the use of federal funds to pay down the historic unemployment insurance trust fund that’ around $5 billion in the red. If that’s not paid down, it could mean higher employer taxes and decreased unemployment benefits.
The $42 billion spending plan includes hundreds of millions for the hospitality sector and money for the state’s health care sector, housing development and more.
Harris said the plan will help make Illinois a leader.
“We’re really committed to acting responsibility, to helping businesses, families, and communities recover and continuing to stabilize our state finances to make Illinois the greatest state of the 50 states,” Harris said.
Rose, speaking at the close of session in the capitol basement, said Democrats are not as caring as they make themselves out to be.
“This General Assembly above us, three flights above us, has been run by the Democrats for almost 20 years and the caring party has led us to a place where we’re 47th in the nation in developmental disabilities,” Rose said.
***Report Courtesy of the Illinois Radio Network***
