Illinois would rely on $1.1 billion in new revenue, in part from taxes on sports betting and recreational marijuana, to address short-term fiscal challenges under Gov. J.B. Pritzker’s recommended budget.
Longer term, the freshman governor called on the Legislature and voters to replace the state’s constitutionally protected flat income tax with a graduated scheme. Pritzker (D) called the flat system, currently pegged at 4.95 percent for individuals and 7 percent for corporations, regressive and unfair, limiting lawmakers’ ability to cope with a fiscal “mess” featuring a $3.2 billion structural deficit and a $15 billion backlog of unpaid debts.
During his ...
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