Illinois’ new governor, J.B. Pritzker, today proposed a nearly $39 billion fiscal 2020 budget that he said will serve as a bridge to “a stable fiscal future” for the financially shaky state until it can change its income tax system. House Republicans expressed surprise that the proposal relies so heavily on gimmicks previously decried by Democrats and the same failed policies that have created record debts.
State Representative Dan Brady was encouraged by some things the governor said about higher education, however, he said his concerns lie with the discussion of a progressive income tax and with the governor’s pension holiday proposal.
State Representative Dan Caulkins says while the governor delivered a good speech the contents of it wasn’t very encouraging.
State Senator Chapin Rose believes the governor struck the correct tone but is not sure the numbers add up.
To address the mounting pension debt, the Governor proposed the legalization and taxation of marijuana and sports gambling along with restructuring the tax system.