No tax hike, no corporate tax breaks in slim Illinois budget

SPRINGFIELD, Ill. (AP) — Democratic Gov. J.B. Pritzker on Wednesday presented a slimmer state budget with no income tax increases. But the budget relies on transfers from other state accounts and the elimination of hundreds of millions of dollars of corporate tax breaks needing legislative approval. The $41.6 billion operating budget for the fiscal year that begins July 1 is a 4.2% decrease from its predecessor. The proposal is a far cry from the dire predictions doled out last fall by members of the administration who were campaigning for Pritzker’s top priority, a graduated income tax that hit the wealthy harder.