"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 the closure of tax loopholes to generate progressive revenue. Senators claim corporations are not paying their fair share and cite Illinois's high overall tax burden. Proposed measures include a digital ad tax and a billionaire hedge fund fee (House Bill 4366) that would impose a fee on each "covered transaction" beginning July 1, 2026. Democratic leaders said new revenue would fund food assistance, safety-net hospitals, and housing support. Questions about implementation and potential business impacts were raised during the announcement.
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