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Sen. Turner Reacts to Illinois $56-Billion Budget, With New Taxes

A local lawmaker is reacting to the State of Illinois' latest budget, totaling $56-billion, and questioning whether all the revenue they are planning on will actually be realized. 


On the WHOW Morning Show Thursday, State Sen. Sally Turner told the Hart Media Group, rather than relying on sustainable revenue, lawmakers utilized roughly $150 million in funding and implemented a series of new tax categories to plug the budget hole.

 

The budget package also introduces a targeted cryptocurrency tax. The measure establishes a 0.2 percent basis point tax tied directly to physical cryptocurrency infrastructure locations operated within Illinois boundaries. Sen. Turner criticized the addition, noting that state officials did not even provide a clear fiscal estimate on what the crypto tax would actually generate before plugging it into the final budget.

 

The latest spending plan implements a social media platform fee aimed at users with more than 100,000 followers in Illinois. The monthly fee scales from 10 cents to 50 cents per user, which Illinois Democrats claim will bring in $200 million annually. Sen. Turner questioned the logistical validity of the fee, stating that no actual process or enforcement mechanism has been detailed. 

 

According to Sen. Turner, there are very questionable things being funded in the Illinois budget, leading her to question what Illinois taxpayers are actually getting for their taxes. 

 

Among other taxes added to the budget this year were a daily sports betting tax, adding to Illinois 50-cents per bet sports wagering tax from last year's budget.
 

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