Benefits & Executive Compensation News

Illinois Governor’s 2021 Budget Boosts Case for Tax on Rich (2)

Feb. 19, 2020, 10:59 PM

Illinois Governor J.B. Pritzker raised the stakes in his push for higher taxes on the wealthy, promising more dollars for education, public safety and pensions in his 2021 budget proposal if voters approve a constitutional amendment to enact a graduated income levy.

The billionaire Democrat delivered his second budget address Wednesday. Spending is forecast at $42 billion for the year that starts July 1, while general fund revenue is projected at $42.1 billion, budget documents show. The revenue estimate includes $1.4 billion if a graduated income tax is approved and will be in reserve until voters sign off on the...

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