Illinois heading into the manmade COVID pandemic economic restrictions with a massive budget deficit/debt even during a good economy.
The amount of deficit/debt that has ballooned for the state since COVID restrictions has been implemented by Governor Pritzker since March 2020 is now pretty much out of control. So it is no surprise what the Governor is doing with COVID relief. It will only get worse.
Governor J.B. Pritzker announced a plan to withhold federal COVID-19 relief funds from small businesses to help fill the state budget deficit.
Congress approved federal tax relief to help businesses recover some losses during the pandemic. The governor announced Illinois could suspend those tax breaks in Illinois and still require businesses to pay to the state.
Todd Maisch, the head of the Illinois Chamber of Commerce, warned that could make it tougher for small businesses to survive.
“Unfortunately, COVID also hit our state budget, requiring tough choices about what we can and cannot afford. Right now, we cannot afford to expand tax breaks to businesses that already receive tax breaks.” – GOVERNOR J.B. PRITZKER, (D) ILLINOISWCIA