Illinois revenue bump spurs debate over Pritzker tax hikes
SPRINGFIELD, Ill. -- Illinois lawmakers and Gov. J.B. Pritzker have learned that the state's take from income taxes in April was $4 billion - 60% higher than anticipated.
Now there's disagreement on how to use that unexpected $1.5 billion windfall.
Republican House Minority Leader Jim Durkin says it is reason enough to call off the Democratic governor's revenue-raising plans for the budget year that begins July 1. Durkin is aiming first at Pritzker's proposal to change the tax system to a graduated-rate structure.
Pritzker says the money is enough to cover most of the expected deficit in the current budget and to forgo a contentious plan to delay next year's state pension payment.
But Pritzker and Democratic legislative leaders say it's far from a solution to Illinois' shaky financial position.