All Press Items
Gov. J.B. Pritzker on Wednesday delivered his first budget address in which he proposed increasing spending on education, social services and public safety while also stabilizing the state’s crippling financial problems.
In the short term, Pritzker plans to free up money by extending payments to the state’s pension fund over a longer period of time – a plan that would reduce payments in the short term but ultimately cost more.
Down the road, Pritzker hopes to tap new sources of revenue by legalizing and taxing recreational marijuana and sports betting.
But his plan to restore the state to financial health is ultimately predicated on moving Illinois to a graduated income tax – a process that requires a constitutional amendment and ratification by voters.
So, how realistic is that?