Bloomberg Tax
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Tax
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

Illinois Governor Proposes Tax Cuts in Election-Year Budget (1)

Feb. 2, 2022, 8:18 PM

Illinois Governor J.B. Pritzker’s proposed budget for the coming fiscal year offers taxpayers some relief from levies on groceries, gasoline and property as they confront the highest inflation in four decades and as he faces re-election in November.

The billionaire first-term Democrat is calling for a one-year suspension of a grocery tax worth $360 million, a gasoline-tax freeze for another $135 million and a one-time property-tax rebate for eligible homeowners that would amount to $475 million.

“The higher cost of even basic necessities is making it harder to make ends meet,” Pritzker said Wednesday during an address from the ...