Bill > HR0095

This resolution expresses the Illinois House of Representatives' commitment to avoiding tax increases as a means of balancing the state budget for the 104th General Assembly. The resolution highlights several concerning fiscal issues facing Illinois, including a $53.1 billion spending plan that will require taxpayers to pay $1.1 billion more in fiscal year 2025, potential corporate tax increases that could reach over $1 billion, and an estimated budget shortfall of $3.1 billion for fiscal year 2026. The document also notes Illinois' already high gas taxes (47 cents per gallon, the second-highest in the nation) and critiques proposals from the Commercial Club of Chicago that suggested raising personal and corporate income taxes or implementing a retirement tax. The resolution argues that such tax increases would likely harm the state's economy and fail to solve underlying fiscal problems, particularly the state's significant pension debt. Ultimately, the resolution takes a firm stance against using tax increases as a budgetary solution, committing the House of Representatives to seek alternative methods of balancing the state budget.

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=95&GAID=18&DocTypeID=HR&SessionID=114&GA=104