Proposed budget does not increase income taxes
Information provided by the Governor’s Office
SPRINGFIELD, Ill. (February 17, 2021) – With the COVID-19 pandemic continuing to hurt families across Illinois, Governor JB Pritzker proposed his third balanced budget, closing nearly $1 billion in corporate tax loopholes and holding overall state spending flat, while strengthening the social safety net.
The proposed budget does not increase income taxes for Illinois families. The administration proposes significant government efficiencies, as well as strategically maximizing federal dollars and bending the cost curve of government through flat spending.
The proposed budget:
- ends $1 billion in giveaways to corporations;
- strengthens safety net services for all Illinois residents in need;
- protects education funding as the federal government directs billions to schools;
- continues investments in economic development, infrastructure and the environment;
- and creates a more equitable Illinois through criminal justice reforms.
The Governor and the administration have committed to advancing long-term structural budget improvements that continue the stronger fiscal trajectory Illinois was on before the pandemic while focusing on economic recovery for the hardest hit.