Ill. budget targets ‘loopholes’ critics call crucial to renewal
SPRINGFIELD, Ill. (AP) - The budget pain and tax increases predicted by Illinois’ governor after voters defeated his constitutional amendment to generate more tax revenue haven’t materialized.
But Gov. J.B. Pritzker has angered the business sector with proposals to eliminate or adjust corporate tax incentives he calls “loopholes.”
But some of them were supported by Pritzker himself in developing his first budget in 2019.
Business representatives say the timing couldn’t be worse, coming after a year of economic disruption brought on by the COVID-19 pandemic.
The nine initiatives would generate $931 million to help fill a $2.6 billion deficit.
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