Pritzker Signs Illinois Budget, Income Tax Measure

Pritzker Signs Illinois Budget, Income Tax Measure

Springfield (AP) – Gov. J.B. Pritzker on Wednesday signed an approximately $40 billion state budget with more money for education and the state’s child welfare agency, along with a measure that could pave the way for a graduated income tax in Illinois. The spending plan for the fiscal year that begins next month has been called “balanced” by both Republicans and Democrats. It’s a 2% increase over the current year, fully funds Illinois’ $9 billion pension contribution and authorizes the borrowing of $1.2 billion to pay $6.7 billion in overdue bills. The budget also includes a $1,600 annual pay raise for lawmakers.

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