With two months to go before the legislature adjourns and current-year revenues continuing to smash expectations, Gov. JB Pritzker said he and legislative leaders are considering tax cuts. His comments came one week after the legislature's nonpartisan Commission on Government Forecasting and Accountability, or COGFA, increased its revenue estimates by about $1 billion for the current and upcoming budget years combined.
SPRINGFIELD -- With two months to go before the legislature adjourns and current-year revenues continuing to smash expectations, Gov. JB Pritzker said he and legislative leaders are considering tax cuts.
And tax cuts were one of several potential uses of excess revenues the governor said he would like to consider. Others include contributions to the state's"rainy day" fund and added payments beyond required amounts to the state's pension system. by signing up you agree to our terms of service McCombie also noted the House Republicans oppose a graduated income tax, which Pritzker has said he has no interest in reviving as a legislative proposal this year.
In their budget approved last summer for the current fiscal year, lawmakers included an array of mostly temporary tax relief. That included direct checks of $50 or more to most Illinoisans depending on income and number of children, a permanent expansion of the state's earned income tax credit to 20 percent of the federal credit, a six-month pause on a 2-cent gas tax increase that ended Jan.
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