“If you set aside federally protected programs, court-ordered obligations and our bond and pension debt, we would have to reduce discretionary spending in our state by approximately 15%,” Pritzker said.
Pritzker claimed that opponents “lied about what would happen if it passed, and they left all of the working people of Illinois holding the bag.”Ĭritics have long complained that state government could balance its budget by cutting vaguely defined “waste, fraud and abuse.” But Pritzker is the latest governor to face a very fine margin for trimming.
“Voters sent a clear message that it is time for Illinois policy makers to stop raising taxes on families and businesses and start getting serious about policy reforms that will help spur long term economic growth,” Mark Denzler, president & CEO of the Illinois Manufacturers’ Association, said in a statement. As for the wealthy, forced to pay more, they would emigrate from Illinois, they said, leaving the middle class to pay a greater share. Opponents contended that Pritzker and fellow Democrats who control the General Assembly would not use the extra revenue to pay debts but instead for new and expanded programs. Those with incomes over $250,000 would pay higher incremental rates, topping out at 7.99%.ĭubbed the “fair tax” by Pritzker and supporters, it was to generate an extra $3 billion a year to help pay down an $8.3 billion backlog in past-due bills, fill revenue gaps in the state budget that lawmakers had hoped federal pandemic relief would fill, and billions of dollars more in debt.īoth sides of the debate invested heavily in their positions, spending a combined $100 million on advertising. He contended that anyone making less than $250,000 - 97% of taxpayers - would pay the current rate or less. Pritzker campaigned to amend the 1970 charter to allow a progressive rate. The Illinois Constitution requires that all income be taxed at a flat rate - currently 4.95%.
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