(WBBM NEWSRADIO) — Illinois Gov. JB Pritzker’s proposed state budget for the next fiscal year will not include an income-tax hike, with the governor saying Wednesday that the economy has rebounded better than expected.
The first-term Democrat warned, however, that he still plans for steep cuts in state services to help offset the revenue lost during the COVID-19 pandemic.
The projected budget deficit is $3 billion, which is smaller than the more than $5 billion his administration projected previously.
Pritzker said businesses are up and running and job losses have not been as bad as expected.
He will outline his budget next week.
Pritzker’s attempt to impose a graduated income-tax rate — with the idea of socking rich people for more money — failed in a November statewide referendum.
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