Pritzker’s Proposed Tax Hikes

$932 million in tax hikes (which Governor Pritzker describes as “loopholes”) extracted from the newsletter called “The Illinoise:”

  • Capping Net Operating Losses at $100,000 per year ($314 million)
  • Matching Foreign-source dividends to Domestic-source dividend rates ($107 million)
  • Rolling back federal 100% accelerated depreciation ($214 million)
  • Eliminating the state biodiesel tax credit ($107 million)
  • Reinstating the corporate franchise tax, which was repealed in 2020 ($30 million)
  • Capping retail stores sales tax discount at $1,000 per month ($73 million)
  • Reducing tax credits for private school scholarships ($14 million)
  • Eliminating an add-on deduction for construction job hires ($16 million)
  • Ending a sales tax exemption for manufacturing machinery ($56 million)

Republican House Leader Jim Durkin had this take, according to the Chicago Tribune, on “loopholes:”

That reminded me of this delightful 2018 display in Bull Valley:

2018 citizen reminder of :Pritzker’s removal of toilets from a mansion to cut his real estate taxes.

Comments

Pritzker’s Proposed Tax Hikes — 3 Comments

  1. Run the last of any business here OUT !

    yeah ol FF again inadequate for his job …

    o wonder he wanted to buy himself one.

    He will be done soon, he just cut his own hot dog neck…

    One and Done!

    bye bye Freddy…

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