Illinois Budget, Infrastructure Bills Generate Revenue Bonanza

Illinois Gov. J.B. Pritzker plans to approve a bevy of tax increases to shore up the state’s finances and crumbling infrastructure under legislation creating a $40 billion operating budget and a separate $45 billion capital construction plan.

The fiscal year 2020 budget and the public works plan, dubbed Rebuild Illinois, were approved by the General Assembly during an overtime session June 1 and 2. The massive spending programs seek new tax revenue from higher levies on gasoline, cigarettes, and parking. The bills would raise additional revenue through rules requiring the collection of sales taxes on e-commerce transactions, higher vehicle ...