During National Small Business Week, Republican senators expressed concern over a proposal from Governor JB Pritzker’s Democratic allies to increase taxes by $6 billion. They argue that this would severely impact Illinois’ small business community, which is already facing challenges. The proposed tax hikes follow a $1 billion increase in the current fiscal year aimed at supporting state spending.
Democratic lawmakers are considering new taxes that could further affect local employers, including a digital advertising tax and an increase in corporate income tax. “When Democrats choose tax hikes and policies that stifle growth, working families suffer the consequences,” said one senator. Republicans argue against forcing small businesses and families to bear the cost of increased state spending.
Senate Republicans are also opposing efforts to lower the state’s estate tax exemption from $4 million to $2 million. They believe this change would negatively affect family-owned farms and businesses. “Lowering the threshold means more grieving families would be forced to pay hefty taxes simply for inheriting land or assets,” they stated.
Additionally, Illinois Democrats have introduced legislation banning certain handguns, raising concerns among Second Amendment supporters. House Bill 4045 and Senate Bill 2652 target Glock handguns that can be illegally modified to function like automatic weapons. Critics argue these measures punish lawful gun owners rather than criminals who misuse such devices.
“Criminals won’t abide by gun bans and restrictions,” said a senator, emphasizing the need for harsher penalties for those who break existing laws. They suggest these proposals may attempt to circumvent a U.S. Supreme Court ruling protecting commonly owned handguns.
