SPRINGFIELD – Not only will Illinois employers be forced to pay starting employees nearly double what they are required to be paid now, Illinois employers that have more successful businesses will be paying even more – if Illinois Governor JB Pritzker and Illinois Democrats are successful in changing the state's constitution.
The required change will be moving away from the state's flat tax, to a progressive one, costing successful business owners and higher-paid employees more as their taxable income grows.
In addition to the progressive tax, Gov. Pritzker wants to expand gambling and legalize pot in order to rake in more tax revenue. It's uncertain whether his proposals will cover the $3.2 billion budget deficit the state faces, much less neglecting to correct the state's serious pension dilemma or its billions in unpaid bills.
Illinois manufacturers were among the first to respond to the governor's plan.
“In order to grow and provide more middle-class jobs, Illinois manufacturers need financial stability from state government, including a budget that doesn’t spend more than taxpayers can afford or rely on gimmicks that will only cost more in the long run. While we applaud the focus on education and workforce development, this budget has a structural deficit of $3.2 billion and continues to kick the can down the road on pensions,” said IMA President and CEO Mark Denzler.
“It’s past time for lawmakers and the administration to make some tough decisions in order for Illinois to become a more attractive place for businesses to locate and expand. We stand ready to work collaboratively toward that goal.”
State Rep. Grant Wehrli (R-Naperville) said the governor was using a well-worn playbook that hasn't worked thus far.