(The Center Square) – Now law is the $750 million in tax increases to fund Illinois’ largest spending plan in state history. But so is a measure increasing the state’s debt by $8 billion while giving schools more taxing authority.
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.
In the early morning hours 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.
“Unfortunately, I think this is going to be an area where you’re going to see an extreme loss on our local businesses and it’s going to be harder in the end for places to stay open,” she said.
Hours later, Pritzker defended another tax
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