Illinois Gov. J.B. Pritzker pitched a $52.7 billion state spending plan February 21 with more money to address the migrant crisis, education and quantum computing, while proposing tax increases that will mostly target business, including a major sports betting tax hike.
“I wish we had big surpluses to work with this year to take on every one of the very real challenges we face,” Pritzker said, according to the Associated Press. “It’s important to note, that while this budget is tight this year, our fiscal house is in order, and we are able to keep our commitments to the people of Illinois.”
Late last year, Pritzker’s budget predicted an almost $900 million shortfall, but his budget office discovered the deficit is smaller than expected and came up with new revenues.
Pritzker plans to double the sports wagering tax from 15 to 35 percent which should bring in $200 million.
