Illinois Governor J.B. Pritzker/WJEZ file photo
By Dave Dahl
If you thought the minimum wage bill passed in a hurry, Governor J.B. Pritzker says there’s more where that came from.
In his budget speech Wednesday afternoon, the governor said he is counting on money from legalized pot and sports betting – and soon.
“I’m calling on the legislature to take this up immediately,” Pritzker said of sports betting. “If we do it this year, we could realize more than $200 million in sports betting fees and taxes in FY 2020.”
A program that doesn’t exist yet? That, and the governor’s proposed pension maneuvers, have some Republicans saying it’s Rod Blagojevich all over again.
The governor, while also beginning his public push for a graduated income tax, also laid out a five-point plan for pensions.
“We will dedicate a portion of the new fair income tax — in other words, hundreds of millions of dollars — to the pension system, over and above the required pension payments,” Pritzker said. “We will infuse new assets into the system up front. We will manage our debt through a small-scale pension bond used entirely for reducing our liability. We will make the optional retiree buyout program permanent. And we will smooth the pension ramp by modestly extending it.”
The extension would be by seven years.
The new fiscal year begins July 1.
Dave Dahl can be reached at news@wjbc.com
