Sen. Linda Holmes, Sen. Chapin Rose and Sen. Robert Martwick all expressed concern about some of Gov. JB Pritzker’s proposed tax changes during a recent Senate hearing.
A bipartisan group of senators on Friday pushed back against portions of Gov. JB Pritzker’s proposal to eliminate so-called “corporate loopholes,” signaling a potential uphill battle for the governor’s spending plan before lawmakers leave Springfield next month.
Pritzker’s Fiscal Year 2022 budget, released in February, called to close $932 million in what the administration called “corporate loopholes.” The proposed tax changes included implementing new caps on corporate net operating, reversing the 2019 repeal of a corporate “franchise tax” and removing a tax exemption for manufacturers.
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