“I contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.”
— Winston Churchill
Gov. J.B. Pritzker, after signing the largest budget in Illinois history, declared that the Land of Lincoln is back, but he failed to complete the rest of that sentence. Illinois is back to the failed policies of more tax increases and out of control spending. Republican “leaders” who supported Pritzker’s big government fiscal policies should be ashamed of themselves. I voted an emphatic “no” on the Pritzker budget and tax increases.
The $40 billion Fiscal Year 2020 unbalanced budget that the governor signed contains more spending than the budget he originally proposed and includes no spending reforms. The budget also includes tax increases on health insurance and online purchases. The Illinois Constitution requires “appropriations for a fiscal year shall not exceed funds estimated by the General Assembly to be available during that year.” The General Assembly did not pass a revenue estimate so this budget cannot be truly balanced. Also, overly optimistic revenue forecasts unrealistically assume that one-time revenue gains will be sustainable.
As egregious as the additional spending is, the real story of the 2019 spring session is taxes, taxes and more taxes. The progressive income tax constitutional amendment is the linchpin for massive future tax hikes and new state spending. Fortunately, voters will have the final say on the progressive income tax constitutional amendment that will be on the ballot in the general election next year. I’m confident that 60% of Illinois voters will not support massive tax increases that will eventually hit the middle class. Do you really trust Illinois political insiders to set your tax rates under a progressive tax system?
Read the full David McSweeny opinion piece in the Daily Herald here.
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