CARBONDALE, IL. (KFVS) -Illinois Governor J.B. Pritzker made a dire prediction this week, after Illinois voters rejected his proposed graduated state income tax.
“With the fair tax being defeated by the republicans and the billionaires, the fact is, as I have said, we’re going to have to make drastic really painful cuts,” said Pritzker.
Pritzker said the Fair Tax would have generated more than $3 billion annually, buy increasing taxes on the state’s wealthier taxpayers.
Newly elected Republican State Senator Terri Bryant said the governor needs to begin with the budget.
“Our budget has to be cut. We cannot spend $42 billion, when we know that our revenue is 38, give or take. That’s number one, let’s work through that first.”
Pritzker said those cuts are the first challenge in the budget. He also added that help from the Federal Reserve may be coming. “On top of that. The failure in revenue from COVID and so MLF will no doubt have to be part of the solution.”
Bryant does not think the Federal Government is going to bail out Illinois.
“That budget was passed on the assumption the progressive income tax would pass and the federal government would bail us out. There’s no federal bailout coming.”
Pritzker did admit some revision’s need to happen. “We need to make other structural changes I’ve asked the leaders to step up and I mean both parties.”
So Bryant said the Governor should start here, with meeting with the people in the State.
“Be a leader, governor Pritzker be a leader and come and work with the people of Illinois.”