![Pritzker: Tax cuts on the table if state revenues continue to exceed expectations Pritzker: Tax cuts on the table if state revenues continue to exceed expectations](https://southwestregionalpublishing.com/wp-content/uploads/2023/03/img-PRITZKER-AG-0496-BHHwHu-1024x1024.jpeg)
Pritzker: Tax cuts on the table if state revenues continue to exceed expectations
By JERRY NOWICKI
Capitol News Illinois
jnowicki@capitolnewsillinois.com
SPRINGFIELD – With two months to go before the legislature adjourns and current-year revenues continuing to smash expectations, Gov. JB Pritzker said he and legislative leaders are considering tax cuts.
His comments came one week after the legislature’s nonpartisan Commission on Government Forecasting and Accountability, or COGFA, increased its revenue estimates by about $1 billion for the current and upcoming budget years combined.
“I would like to see – as we feel comfortable with these new revenues coming in and their stability; and I think we’re seeing a few years in a row now of the stability of that revenue – that we should be talking about whether there are tax cuts that we can implement,” he said at an unrelated news conference at a Springfield community college.
The governor did not say whether tax cuts would be permanent or which taxes he and lawmakers are considering cutting. And tax cuts were one of several potential uses of excess revenues the governor said he would like to consider. Others include contributions to the state’s “rainy day” fund and added payments beyond required amounts to the state’s pension system.
The conversation about what to do with excess revenues that show year-over-year stability is one Pritzker said has involved both Democrats and Republicans.
House Minority Leader Tony McCombie, R-Savanna, told Capitol News Illinois in a statement that the House GOP stands ready to work with the governor.
“To hear the governor mention any tax cuts is an exciting prospect for families across our state. At the first meeting I had with Gov. Pritzker, we discussed the cumbersome franchise tax on small businesses and high estate taxes that unfairly target family farms,” she said. “The governor recognizing conversations with Democrats and Republicans gives me hope that we will reinstitute the bipartisan budget working group with our budgeteers and appropriation teams leading the way.”
McCombie also noted the House Republicans oppose a graduated income tax, which Pritzker has said he has no interest in reviving as a legislative proposal this year.
Senate Minority Leader John Curran, R-Downers Grove, referred to business-related tax incentives that Pritzker and lawmakers approved on bipartisan lines in 2019 but which Democrats froze in future budget years.
“Initial discussions on tax relief have been receptive,” Curran said in a statement. “We will continue to call for implementing the business incentives that the governor agreed to in the Blue Collar Jobs Act, along with additional tax relief for Illinois families and small businesses.”
He said the Senate GOP is hopeful Pritzker will “include Republicans at the table of substantive budget meetings,” and they are “willing to negotiate in good faith.”
In their budget approved last summer for the current fiscal year, lawmakers included an array of mostly temporary tax relief. That included direct checks of $50 or more to most Illinoisans depending on income and number of children, a permanent expansion of the state’s earned income tax credit to 20 percent of the federal credit, a six-month pause on a 2-cent gas tax increase that ended Jan. 1, a one-year suspension of the state’s 1 percent grocery tax that ends June 30, and a property tax rebate up to $300 for some Illinoisans.
The governor’s office estimated those measures amounted to about $1.8 billion in tax relief overall. The state approved legislation bringing its rainy day fund balance to an estimated $1.9 billion by the end of the fiscal year and contributing $500 million beyond statutory requirements to its pension fund over the past two years.
The revenue update announced by COGFA last week represents just the latest in a remarkable stretch for state government revenues that have boomed nationwide over the course of the past two years. In Illinois, the growth has been driven by wage growth, corporate profits, inflation, changes to the corporate and online sales tax structures, revenues from marijuana sales and other factors.
“You can see in every single month so far this fiscal year we’ve actually had a gain where we’ve generated more revenue in this fiscal year compared to the same time a year ago,” Eric Noggle, senior revenue analyst for COGFA, said at the commission’s March meeting last week.
COGFA’s new estimate of $51.9 billion in revenues for the current fiscal year that ends June 30 is $545 million beyond the amount assumed by the Governor’s Office of Management and Budget in Pritzker’s budget proposal. And its $50.4 billion estimate for the fiscal year that begins July 1 is $465 million beyond GOMB’s initial estimate.
All told, COGFA now expects the state to end the fiscal year with revenues surpassing their initial estimates by more than $5 billion. While that’s partially because base sales and income tax receipts continue to produce at record levels, it’s also because the state’s estimates approved last summer were conservative, Pritzker said.
The current fiscal year still has three and a half months left, so COGFA noted in its recent report that the revenue estimate could be bumped even higher if final income tax receipts are stronger than expected as taxpayers file their returns for the year.
But it could also move downward, the commission noted, if those revenues come in lower than expected due to weakening market conditions. They noted other factors could change the state’s revenue outlook, including the possibility of another COVID-19 resurgence, a worsening of the war in Ukraine, or a potential recession.
Capitol News Illinois is a nonprofit, nonpartisan news service covering state government and distributed to more than 400 newspapers statewide. It is funded primarily by the Illinois Press Foundation and the Robert R. McCormick Foundation.
Local News
![dvn lyons mountain climber mask Stephan Alheim wears a mask that helps him prepare for the high altitudes during his climb of Mount Kilimanjaro. (Photos by Steve Metsch)](https://southwestregionalpublishing.com/wp-content/uploads/2022/01/dvn-lyons-mountain-climber-mask-996x1024.jpg)
Lyons man is climbing Mount Kilimanjaro
Spread the loveBy Steve Metsch While you’re reading this story, Lyons resident Stephan Alheim will be busy climbing the tallest mountain in Africa. Alheim is one of 10 adventurers who this week are climbing to the top of Mount Kilimanjaro, which is 19,341 feet tall. They started climbing Jan. 23 and are expected to reach…
![dvn ryan grace willow admin Ryan Grace](https://southwestregionalpublishing.com/wp-content/uploads/2022/01/dvn-ryan-grace-willow-admin-932x1024.jpg)
Willow Springs expected to hire Lyons official as village administrator
Spread the loveBy Steve Metsch Ryan Grace, public works director in Lyons for the past four years, is expected to be hired as the Willow Springs village administrator tonight. The village board is expected to approve his hiring during its 7 p.m. meeting. Grace, 38, said he was offered the job by Willow Springs Mayor…
![2 Rhone Talsma (right), Chicago Ridge Public Library's Multimedia Librarian, today defeated 40-day champion, Amy Schneider, in Final Jeopardy, walking away with $29,600. He's standing next to host Ken Jennings. (Supplied photos)](https://southwestregionalpublishing.com/wp-content/uploads/2022/01/2-2-1024x576.jpg)
Chicago Ridge librarian knocks off ‘Jeopardy’ champion
Spread the loveBy Kelly White Rhone Talsma grew up watching “Jeopardy!” – the classic game show with a twist where the answers are given first, and the contestants supply the questions. On Wednesday, Talsma knocked off 40-day champion Amy Schneider and won almost $30,000 in the process of becoming the new champion. Locally, the show…
![SRP-IMAGE-Logo SRP-IMAGE-Logo](https://southwestregionalpublishing.com/wp-content/uploads/2021/05/SRP-IMAGE-Logo-1024x560.png)
Seven Mt. Carmel wrestlers win titles, help Caravan to Chicago Catholic League crown; Brother Rice takes 3rd
Spread the loveBy Steve Millar Correspondent Ryan Boersma did not get the opportunity to become a four-time Catholic League champion because the COVID-19 pandemic caused to the cancellation of the conference tournament. But winning three Catholic League championships at two schools, and wrapping it up by winning a Lawless Award for the league’s best senior…
![SRP-IMAGE-Logo SRP-IMAGE-Logo](https://southwestregionalpublishing.com/wp-content/uploads/2021/05/SRP-IMAGE-Logo-1024x560.png)
Davion Lawrence’s double-double leads Oak Lawn over Richards
Spread the loveBy Steve Millar Correspondent When they were growing up, Johnny McGowan had the upper hand when squaring off on the court against Davion Lawrence. “Me and him go way back,” said McGowan, a senior guard at Oak Lawn. “He used to sleep over at my house when we were younger. We went to…
![GSWNH_PlantChicagoMarket_012822 Plant Chicago is a non-profit that encourages the growth neighborhood-based start-up businesses and which promotes what it calls a circular economy. It promotes a community-wide adoption of business models designed to recycle and reuse materials, money, expertise and more. Initially headquartered in a century-old warehouse in Back of the Yards, Plant Chicago has relocated to what was a vacant firehouse at 45th and Marshfield. Its indoor farmers markets are possibly its best-known and most popular events. The next market is set for 11 a.m. to 3 p.m. Saturday, Jan. 29 at its headquarters. For details, visit plantchicago.org. --Supplied photo](https://southwestregionalpublishing.com/wp-content/uploads/2022/01/GSWNH_PlantChicagoMarket_012822-1024x768.jpg)
Funds flow to Back of the Yards
Spread the loveFour groups get grants; millions more available By Tim Hadac Four organizations in Back of the Yards—three businesses and a non-profit—are among 31 awarded more than $14.4 million in small business grants being allocated through the Chicago Recovery Plan. They are: Diaz Group Office Space, 5100 S. Damen, $250,000. El Nuevo Guadalajara, 4350…
![GSWNH_TamikoTalbertFlemming_012822 Talbert Fleming](https://southwestregionalpublishing.com/wp-content/uploads/2022/01/GSWNH_TamikoTalbertFlemming_012822-1020x1024.jpg)
Offer reward in grandma’s slaying
Spread the loveWas shot on 71st Street By Tim Hadac A $15,500 reward is offered for information leading to the arrest and conviction of whoever shot and killed a 49-year-old grandmother in the Chicago Lawn neighborhood. Tamiko L. Talbert Fleming, of south suburban Dolton, was in the driver’s seat of her vehicle at 71st…
![GSWNH_GirlScoutCookies_012822 GSWNH_GirlScoutCookies_012822](https://southwestregionalpublishing.com/wp-content/uploads/2022/01/GSWNH_GirlScoutCookies_012822.jpg)
A sweet salesgirl
Spread the love Alessandra Valentina Paredes, a Daisy Scout with Girl Scout Troop 20637 (sponsored by St. Nicholas of Tolentine Parish), shows a sweet smile as she begins her first-ever time selling Girl Scout Cookies. The daughter of West Lawn residents Jose Antonio and Lorena Paredes, Alessandra, age 5, joined the Daisies just four months…
![CRRNH_FrontierJet_012622 CRRNH_FrontierJet_012622](https://southwestregionalpublishing.com/wp-content/uploads/2022/01/CRRNH_FrontierJet_012622.jpeg)
Midway is new for Frontier
Spread the loveLow-fare airline coming in April By Tim Hadac Low-fare passenger airline options are set to increase at Midway International Airport this spring, with the arrival of Frontier Airlines. The expansion of air travel options was announced at a press conference last week at the airport. With 10 new nonstop routes taking off starting…
Neighbors
![CRRNH_NiegoStory_062624 Thanks to Niego Real Estate, block after block in Clearing and Garfield Ridge are decked out each year in red, white and blue. Residents are asked to volunteer to pick up flags and decorate their whole block—or even additional blocks. --Supplied photo](https://southwestregionalpublishing.com/wp-content/uploads/2024/06/CRRNH_NiegoStory_062624-768x1024.jpg)
Niego Real Estate salutes America again
Spread the love. Popular flag program underway . By Tim Hadac Clearing and Garfield Ridge residents who want to decorate their blocks in red, white and blue this Independence Day are encouraged to contact Niego Real Estate and reserve a supply of U.S. flags at no charge. The popular program to promote patriotism and community…
![dvn 6-24-24 Alan_Morales Alan Morales](https://southwestregionalpublishing.com/wp-content/uploads/2024/06/dvn-6-24-24-Alan_Morales.jpg)
Lyons Mental Health Commission pulls LeaderShop funding
Spread the loveExecutive director accused of harassment From staff reports The local nonprofit service community was jolted when nearly $300,000 in mental health funds was withdrawn by a Lyons Township agency from the Western Springs LeaderShop, a social service agency that has provided youth programs for nearly 40 years. The Lyons Township Mental Health Commission…
![SRP-IMAGE-Logo SRP-IMAGE-Logo](https://southwestregionalpublishing.com/wp-content/uploads/2021/05/SRP-IMAGE-Logo-1024x560.png)
Mount Carmel, Marist and Oak Lawn among 84 teams at Riverside-Brookfield shootout
Spread the loveBy Xavier Sanchez Correspondent High school boys basketball does not stop in March and pick back up in late autumn. For many players, playing hoops is a year-round commitment. AAU ball is a big reason for, that there are summer camps, shootouts or other events at most schools during the summer. The…
![PeggyZabicki Peggy Zabicki](https://southwestregionalpublishing.com/wp-content/uploads/2023/10/PeggyZabicki-1024x768.jpg)
Dog lovers to celebrate ‘Fur of July’
Spread the love. By Peggy Zabicki Your correspondent in West Lawn 3633 W. 60th Place • (773) 504-9327 . I’m starting out with some fun news. The West Lawn Dog Park Advisory Council will be hosting a Fur of July Pet Parade on Saturday, June 29 from 10:30 a.m. to 12:30 p.m. at West Lawn…
![MaryStanek Mary Stanek](https://southwestregionalpublishing.com/wp-content/uploads/2023/10/MaryStanek-768x1024.jpg)
Fourth of July not happy for everyone
Spread the love. By Mary Stanek Your correspondent in Archer Heights and West Elsdon 3808 W. 57th Place • (773) 517-7796 . Happy Fourth of July. Cannot believe I am already saying that, time sure goes. Hope it is safe and quiet for everyone and especially all of our house pets. For us its shutting…
![kathyheadley2021 Kathy Headley](https://southwestregionalpublishing.com/wp-content/uploads/2023/10/kathyheadley2021-869x1024.jpg)
St. Rita’s transformation is worth a look
Spread the love. Kathy Headley Your correspondent in Chicago Lawn and Marquette Manor 6610 S. Francisco • (773) 776-7778 . St. Rita of Cascia Church, 63rd and Fairfield, continues to undergo its transformation from the sunflowery/harvest golds and browns of the 1960s and 1970s to the calming pastels of the 2000s. Since the basilica-style church…
![NAEHER Alyssa Naeher clears a ball at North Carolina on June 23 in a 3-1 Red Stars loss. IMAGN photo](https://southwestregionalpublishing.com/wp-content/uploads/2024/06/NAEHER-1024x712.jpg)
Loss to Courage brings Red Stars’ winless streak to five games
Spread the loveBy Jeff Vorva Correspondent The Chicago Red Stars historic start to the season is all but forgotten. In the last five matches, the Red Stars have failed to win, with the latest setback being a 3-1 loss on the road to North Carolina on June 23 in an NWSL battle. The Red Stars…
![SRP-IMAGE-Logo SRP-IMAGE-Logo](https://southwestregionalpublishing.com/wp-content/uploads/2021/05/SRP-IMAGE-Logo-1024x560.png)
Summer League Basketball | Illinois powers compete at Riverside-Brookfield Shootout
Spread the loveBy Xavier Sanchez Correspondent School’s out for the summer, but high school athletes across Illinois are remaining active during the summer sports season. This includes basketball players, who can be found at camps, open gyms, camps and even weekend tournaments. Among the more high profile hoops action in the area was the Riverside-Brookfield…
![Dana RETTKE Dana Rettke, a graduate of Riverside-Brookfield High School, will play on the U.S. women's volleyball team at the upcoming Summer Olympic Games in Paris.](https://southwestregionalpublishing.com/wp-content/uploads/2024/06/RETTKE.jpg)
Dana Rettke and Ryan Murphy heading to Paris Summer Games
Spread the loveBy Jeff Vorva Correspondent Area fans of the Summer Olympics will have extra reasons to cheer athletes from the United States in the upcoming Paris Games. Dana Rettke of Riverside is a member of the U.S. women’s volleyball team and Palos Heights native Ryan Murphy will represent the country in swimming. Rettke, a…
![kathyheadley2021 Kathy Headley](https://southwestregionalpublishing.com/wp-content/uploads/2023/10/kathyheadley2021-869x1024.jpg)
Hope Church feeds the hungry at Marquette Park
Spread the love. Kathy Headley Your correspondent in Chicago Lawn and Marquette Manor 6610 S. Francisco • (773) 776-7778 . Last week on the way to our CAPS meeting at the Marquette Park Fieldhouse, I stopped in at the Tuesday Community Dinner hosted by Hope Church every week in the auditorium. Pastors Ben and Jordyn…