* Greg Hinz interviewed JB Pritzker yesterday…
Illinois may need another tax hike to balance the books and pay for needed public investments, even if the progressive income tax eventually comes about. […]
“If you want to add revenue, the first focus is on accelerating growth and not raising taxes,” he said. […]
However, even if waste is cut, some new money will be needed to pay bills and meet tomorrow’s needs, Pritzker said.
Some will come from amending the Illinois Constitution to allow a progressive income tax, something that would require a referendum vote, likely in 2020. Pritzker said he could not estimate how much that would pull in, but he projected the state would net another $300 million to $700 million by legalizing and taxing marijuana.
Would that be enough to meet all the needs while growth accelerates?
“No. But it depends on how you prioritize,” Pritzker replied.
Would boosted income from a progressive income tax suffice?
“I don’t know,” he replied. “I haven’t proposed a budget. . . .(But) it’s clear that we are underfunding schools.”
Pritzker later suggested that some spending cuts would be on the table, but did not get specific.
* The Republican Governors Association pounced…
Illinois Democrat gubernatorial candidate J.B. Pritzker openly admitted in an editorial board interview with Crain’s Chicago Business yesterday that he would seek massive tax hikes if elected Governor – even more than previously disclosed by his campaign.
Pritzker’s openness about raising taxes if elected poses challenges for his nascent campaign, since Illinois voters already face some of the highest tax burdens in the nation. Pritzker’s position in favor of tax increases is in stark contrast to that of Governor Bruce Rauner, who has consistently advocated for structural reforms and lower taxes as the solution to Illinois’ fiscal challenges.
This is not the first time Pritzker has detailed his openness to tax hikes. He began his campaign amidst audio recordings documenting that he favored a large increase in the state income tax, and has opposed a property tax freeze.
Pritzker has also come under fire for not paying his fair share of taxes on his second gold-coast Chicago mansion, getting hundreds of thousands of dollars in politically connected tax breaks. Now, he’s running on raising taxes for others.
* Greg updated his piece with this statement from the Pritzker campaign…
“J.B. does not believe we should raise taxes on middle class families, period. As J.B. has said since he entered the race, passing a progressive income tax will be his top priority as governor and he is committed to finding budget solutions, like legalizing and taxing marijuana, to help address the damage Bruce Rauner has done.”
*** UPDATE 1 *** ILGOP…
“Illinois may need another tax hike to balance the books and pay for needed public investments, even if the progressive income tax eventually comes about.
“That was the fiscal bottom line from Democratic gubernatorial hopeful J.B. Pritzker today as the Chicago entrepreneur and investor, who’s moved ahead in some recent polls, met with Crain’s Editorial Board for a wide-ranging interview.”
That is how Greg Hinz’s Monday column on J.B. Pritzker column begins. Pritzker continues to mirror his patron Mike Madigan when it comes to taxes, promoting even higher taxes despite Madigan’s 32% tax hike on Illinois families earlier this year.
Madigan muscled through the increase this summer, and if he has his way, will continue to raise taxes.
This comes as no surprise, as Madigan has stated a tax increase to 5% is a “good place to begin.”
This all while Pritzker continues to dodge releasing his own tax returns. It has been 221 days since Pritzker pledged to release his taxes, but he continues to hide behind empty promises of ’soon.’
When it comes to raising taxes, Pritzker is lock step with Madigan: more taxes, no reform.
*** UPDATE 2 *** Rauner campaign…
Yesterday, JB Pritzker stated his support for yet another tax increase on working families all across Illinois. This would mean even more tax hikes after Pritzker’s ally, Speaker Mike Madigan, rammed through a 32% tax hike earlier this year. Governor Bruce Rauner knows that more tax hikes will only force more jobs to leave the state. That’s why he’s fighting to reform Madigan’s corrupt system in Springfield.
From Greg Hinz’s Monday column: “Illinois may need another tax hike to balance the books and pay for needed public investments, even if the progressive income tax eventually comes about. That was the fiscal bottom line from Democratic gubernatorial hopeful J.B. Pritzker today as the Chicago entrepreneur and investor, who’s moved ahead in some recent polls, met with Crain’s Editorial Board for a wide-ranging interview.”
Following Pritzker’s comments, Rauner spokesman Justin Giorgio issued the following statement:
“The contrast is clear in Illinois. Governor Rauner is fighting for every single Illinoisian by working to fix a broken and corrupt system. He wants everyone to be able to keep more of their hard-earned paychecks. But JB Pritzker doesn’t want to do the difficult work of making real reforms. JB Pritzker just wants to raise taxes to avoid showing any leadership and staying in the good graces of Mike Madigan.”
*** UPDATE 3 *** Pritzker campaign…
“The idea that Bruce Rauner is fighting for every Illinoisan is as laughable as his team’s spelling and tired talking points. Bruce Rauner decimated schools, social services, and working families across this state and refuses to take a stand on Donald Trump’s tax plan that will raise taxes on many middle-class families. The truth is, the best thing Rauner can do for every Illinoisan is hop back on his motorcycle and ride off before destroying anything else in this state.”
*** UPDATE 4 *** ILGOP…
So J.B. Pritzker does not deny his plan to raise income taxes on every Illinoisan. Our suspicions have been confirmed. Illinois, hold onto your wallets. Pritzker and Madigan are coming.
Um, didn’t he say he didn’t want to raise taxes on the middle class at all?
*** UPDATE 5 *** Pritzker campaign…
A. Please refer to previous statement: “J.B. does not believe we should raise taxes on middle class families, period.”
B. Does Rauner support Donald Trump’s destructive tax plan? Yes or no?