"If you live in Illinois, you pay a greater percentage of your income in taxes than almost anyone of any income stratus anywhere in the country. That's not right,"
"What we need is a digital ad tax. We need to take the money from these ultra-rich billionaires and make it so less people have to go to a food pantry, make it so a safety net hospital is able to stay open, make it so people have comfort and a roof over their head,"
"So we in Illinois, need to be the adults in the room, right? We in Illinois need to tax those corporations and those billionaires,"
Illinois Senate Democrats propose higher taxes on digital advertising, billionaires, and corporations and seek closure of tax loopholes to increase progressive revenue. Proposals include a digital ad tax targeting tech companies' advertising revenue and a billionaire hedge fund fee represented by House Bill 4366, which imposes a fee on each 'covered transaction' occurring on or after July 1, 2026. The measures are framed as funding for safety-net hospitals, food assistance, housing stability, and other public services amid concerns about high tax burdens on residents. Criticism of federal budget cuts and immigration enforcement was cited. Questions about economic impacts and business flight remain.
Read at The Center Square
Unable to calculate read time
Collection
[
|
...
]