Gov. J.B. Pritzker’s budget offers mixed bag on taxes

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Illinois Gov. J.B. Pritzker proposed adjustments to the state income tax exemption and elimination of the state’s 1% grocery tax in his budget plan. The changes to the tax exemption, designed to rise with inflation, would lower the built-in annual increase, impacting low-income families more significantly. This move could bring in $93 million in state revenue but has been criticized as a hidden tax hike on individuals. Pritzker also proposed a child tax credit for low and moderate-income families and intends to increase the tax on sports wagers from 15% to 35%. These measures were offset by his proposal to abolish the grocery tax, which he claims could save families “a few hundred bucks” annually.

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