SPRINGFIELD, Ill. (WAND) — Gov. JB Pritzker signed the Fiscal Year 2027 budget into law Tuesday.Â
Democrats said affordability was the top priority for the nearly $56 billion spending plan, but Republicans believe there weren't enough cuts made to help working families.
Pritzker said fiscal responsibility allows Illinois the flexibility to make the right investments for the future.Â
"It's how we create opportunity and invest in our people," Pritzker said. "It's how we are so far able to weather the economic destruction and chaos of the Trump administration that's being visited on our most vulnerable."
Democrats note the budget fully funds K-12 education, meets pension obligations and invests in the state's healthcare system to prevent future hospital closures.
It also includes $45 million for property tax relief grants and $70 million to help people losing SNAP benefits due to restrictions approved by Congress. This program will provide eligible Illinoisans a one-time $400 payment to their EBT cards.
"At a time when SNAP is being weaponized against vulnerable individuals, this budget lays a path forward for Illinois to take action by responding to the historic cuts to food assistance with a lifeline for families wondering how they're going to put food on the table," said Sen. Elgie Sims (D-Chicago).Â
The majority party froze the motor fuel tax, saving drivers from the 2% annual increase for at least six months. However, Republicans said Democrats should've agreed to suspend the 5% sales tax on gas.Â
GOP leaders are also upset that budgeteers swept $150 million from the gas sales tax revenue to help fill holes in their spending plan.
"If you're a driver who is irritated by the high price of gas that you're paying, you should be extra irritated when you understand where the funds are going," said Rep. Ryan Spain (R-Peoria).Â
This budget includes new taxes on prediction markets, fantasy sports and cryptocurrency. Although, the most notable tax will likely end up in a court battle with Facebook and other popular social media sites.
"Our social media platform fee requires tech giants to pay for the mental health and educational degradation that they've caused our children," Pritzker said.
Democrats stressed the $800 million in new taxes will not impact everyday people. Still, Republicans warn everyone will pay more.
"No society in the history of Earth has taxed itself into prosperity, not one. Never," said Sen. Chapin Rose (R-Mahomet). "A lot have collapsed under fiscal mismanagement but have never become prosperous."
The new fiscal year starts on July 1. Families can also prepare for a back-to-school sales tax holiday for supplies, clothing and other necessities from Aug. 7 to 16.
"When Washington threatens food assistance for families, Illinois is investing in children and making sure more students can get a healthy meal at school," said Speaker Emanuel "Chris" Welch (D-Hillside). "When Washington puts healthcare at risk, Illinois is investing in the providers and caregivers who keep our communities healthy."
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