Lawmakers, Pritzker administration spar over projected fiscal year revenues

From Capitol News Illinois

SPRINGFIELD – Members of an Illinois Senate committee sparred with officials from Gov. JB Pritzker’s administration Friday in a hearing on tax changes proposed by the governor in an effort to balance the state’s budget for the 2022 fiscal year.

The Senate Revenue and Appropriations committees held the joint hearing, questioning the directors of the Illinois Department of Revenue and the Governor’s Office of Management and Budget among others.

In his budget proposal released in February, Pritzker outlined nine changes to the corporate tax code meant to generate $932 million in revenue for the state in order to maintain a balanced budget while keeping income taxes and government spending flat for FY 22, which begins July 1.