Governor gives budget address, Bryant and Friess share response

Pritzker proposed over $2B in spending growth, backed by tax increases for corporations, sportsbooks

By Jerry Nowicki

Capitol News Illinois

Governor JB Pritzker on Wednesday, Feb. 21 proposed growing state spending by over $2 billion in the upcoming fiscal year while making a handful of corporate, sports wagering and other tax changes to pay for the increase.

Pritzker’s plan, laid out to lawmakers during his annual budget address, does not alter or increase state income tax rates. But it would more than double the tax rate paid by sportsbooks on gross revenues and extend an existing cap on operating losses businesses can claim on taxes.

For more information, please see this week’s print edition.