{"id":2262915,"date":"2024-06-08T11:56:01","date_gmt":"2024-06-08T15:56:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gov-pritzker-enacts-750-million-tax-increase-bill\/"},"modified":"2024-06-08T12:01:07","modified_gmt":"2024-06-08T16:01:07","slug":"gov-pritzker-enacts-750-million-tax-increase-bill","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gov-pritzker-enacts-750-million-tax-increase-bill\/","title":{"rendered":"Gov. Pritzker signs bill for $750 million tax hike"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fgov-pritzker-enacts-750-million-tax-increase-bill%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2262915&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Inds certain video gaming taxes.<\/p>\n<p>Illinois Governor J.B. Pritzker recently\u2064 signed a $53.1 billion budget\u200c in the \u200cstate, making it the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/in-dead-of-night-illinois-house-approves-largest-spending-plan-in-state-history\/\" title=\"During the late hours, Illinois House passes record-breaking spending plan\">largest spending plan<\/a> in its\u200c history. The budget also includes $750 million\u2062 in tax increases. However, there is also a measure that will raise the state&#8217;s debt by $8 billion and giving schools more taxing authority. The tax measure involves capping \u2063the \u2064credit businesses can receive for claiming net operating losses and discounts for collecting and \u200cremitting sales taxes. While some lawmakers have criticized these measures for\u2063 potentially hurting local businesses, Governor Pritzker \u200cdefended the increase, stating that the focus was on\u2064 asking those who can \u2063pay\u2063 more to do so. Another provision in the \u200brevenue \u2064bill limits\u200d the\u2062 fees that financial institutions can \u2064charge for sales tax and also\u2063 adjusts certain video gaming taxes.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div>\n<p>(The Center Square) \u2013 Now law is the $750 million in tax increases to fund Illinois\u2019 largest spending plan in state history. But so is a measure increasing the state\u2019s debt by $8 billion while giving schools more taxing authority. <\/p>\n<p>Pritzker signed the $53.1 billion budget Wednesday. Friday, he signed the tax measure that includes capping the credit businesses can get for claiming net operating losses and capping the discount retailers get for collecting and remitting sales taxes. <\/p>\n<p>In the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/democrat-cori-bush-rushes-to-defense-of-very-violent-criminals-rioting-attacking-guard-in-jail\/\" title=\"Democrat Cori Bush Rushes To Defense Of \u2018Very Violent\u2019 Criminals Rioting, Attacking Guard In Jail\">early morning hours<\/a> on the final day the House was in session last month, House Minority Leader Tony McCombie, R-Savanna, criticized the video gaming terminal tax increase provision. <\/p>\n<p>\u201cUnfortunately, I think this is going to be an area where you\u2019re going to see an extreme loss on our local businesses and it\u2019s going to be harder in the end for places to stay open,\u201d she said. <\/p>\n<p>Hours later, Pritzker defended another tax increase, the tiered tax on sports betting companies. <\/p>\n<p>\u201cIn fact, if you look at what we did, really our focus was on asking people who can, companies that can pay more to pay more,\u201d Pritzker said. <\/p>\n<p>Another provision in the revenue bill found in <strong><a href=\"https:\/\/ilga.gov\/legislation\/billstatus.asp?DocNum=4951&#038;GAID=17&#038;GA=103&#038;DocTypeID=HB&#038;LegID=152864&#038;SessionID=112\" target=\"_blank\" rel=\"noreferrer noopener\">House Bill 4951<\/a><\/strong> prohibits the fee financial institutions can charge for sales tax and gratuity transactions. Despite some warning that will cause consumers to have to swipe credit cards twice, once for the goods and again for the tax, Pritzker downplayed those concerns. <\/p>\n<p>\u201cCertainly something I think, you know, we\u2019re always willing to discuss, revisit, have a conversation about,\u201d Pritzker said Wednesday. \u201cThere\u2019s time to do that through the rest of the year.\u201d <\/p>\n<p>The revenue package also includes some tax credits, including a withholding tax credit for hiring local journalists, and it creates the Musicians Tax Credit and Jobs Act.<\/p>\n<p>The next fiscal year begins July 1. <\/p>\n<p>Pritzker also signed the bond authorization measure Friday. State Rep. Tom Weber, R-Lake Villa, said <a href=\"https:\/\/ilga.gov\/legislation\/billstatus.asp?DocNum=4582&#038;GAID=17&#038;GA=103&#038;DocTypeID=HB&#038;LegID=151869&#038;SessionID=112\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>House Bill 4582<\/strong><\/a> not only puts taxpayers $8 billion in more debt, it also allows local school boards to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gov-greg-abbott-to-newsmax-im-going-to-do-bidens-job-on-border\/\" title=\"Gov. Greg Abbott to Newsmax: I'm Going to Do Biden's Job on Border\">increase property taxes<\/a> without a referendum. <\/p>\n<p>\u201cYou heard that right, folks. A resolution to levy taxes not by referendum,\u201d he said, noting the state has among the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/maine-city-taxpayers-may-lose-services-to-cover-migrant-housing-costs\/\" title=\"Maine City Taxpayers May Lose Services to Cover Migrant Housing Costs\">highest property taxes<\/a> in the country. <\/p>\n<p>The bill synopsis states \u201cbeginning September 1, 2024, no referendum shall be required to build or purchase a building for school classroom or instructional purposes if, prior to the building or purchase of the building, the board determines, by resolution, that the building or purchase will result in an increase in pre-kindergarten or kindergarten classroom space in the district.\u201d <\/p>\n<p>Also signed Friday was the Medicaid omnibus bill in <a href=\"https:\/\/ilga.gov\/legislation\/billstatus.asp?DocNum=3268&#038;GAID=17&#038;GA=103&#038;DocTypeID=SB&#038;LegID=152604&#038;SessionID=112\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Senate Bill 3268<\/strong><\/a> that changes rates for services and gives pharmacists the ability to do tests for things like flu, HIV and COVID-19.<\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Illinois has enacted a $750 million tax increase to support the state&#8217;s largest-ever budget of $53.1 billion. Additionally, a new measure allows an $8 billion increase in state debt and grants schools greater taxing power. Governor Pritzker signed the budget on Wednesday and the accompanying tax legislation on Friday<\/p>\n","protected":false},"author":1,"featured_media":2262916,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/01\/AP23291684603724-1024x683.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2262915","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/01\/AP23291684603724-1024x683.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2262915","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2262915"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2262915\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2262916"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2262915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2262915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2262915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}