SPRINGFIELD, Ill. (WAND) — Democratic leaders and advocates are demanding lawmakers include progressive revenue enhancements in the state's Fiscal Year 2027 budget.

The Illinois Revenue Alliance told reporters in Springfield Wednesday that families will continue to suffer if the state does not tax billionaires and giant corporations. They argue a billionaire tax could generate $916 million for the state, and closing corporate tax loopholes would bring in $700 million.

Democrats are also pushing for a digital advertising tax to help low-income families.

"For far too long, these billionaire companies have built massive industries off our communities while contributing very little back into public systems that hold this state together," said Rep. Norma Hernandez (D-Chicago). "Meanwhile, teachers are paying their fair share. Nurses are paying their fair share. Factory workers in my district are paying their fair share."

Advocates note the digital advertising tax could rake in over $1 billion for Illinois. They also stress lawmakers cannot pass a maintenance budget, as that could cut critical services for people most in need.

"It's time to close these loopholes, bring our dollars back home and build an economy that finally sees, values and supports every single resident from Chicago to Cairo," said Sen. Lakesia Collins (D-Chicago). 

Illinois Senate Republicans say budget discussions with Democrats have been amicable and courteous so far, but they expect to have their chairs removed from the negotiating table by the end of the week.

Senate GOP leaders are concerned the final budget will include billions of dollars of tax increases to help Democrats spend more money. Sen. Sally Turner (R-Lincoln) said a digital advertising tax could hurt small businesses across the state.

"Those businesses are already dealing with major inflation, rising utility bills, higher insurance costs and increased expenses across the board," Turner said.

Republicans are also concerned about plans to eliminate the tax incentives for biodiesel and renewable fuel. Turner said ending the tax credits could reduce demand for crops and put even more strain on family farms.

Sen. Chapin Rose (R-Mahomet) said state government spending has gone up $16 billion since Gov. JB Pritzker took office. Rose argued Democrats need to stop creating taxes to allow uncontrolled spending.

"How much is enough? When does it end?" Rose asked. "When do you stop punishing the working people of this state?"

The General Assembly needs to pass the FY27 budget package before the spring session adjourns May 31.

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