More Taxes
May 7, 2026
While Springfield Democrats push for even more tax hikes, Illinois families are already struggling under the highest tax burden in the nation. We need to stop the endless spending and start providing real relief to our taxpayers.
Progressive Democratic lawmakers and advocates are continuing their push for a billionaire's tax.
It comes as the state's budget deadline is fast approaching.
The Illinois Revenue Alliance says families are suffering while billionaires and giant corporations avoid paying their fair share.
Democrats have plans to create a billionaire wealth tax and close corporate tax loopholes.
They argue a billionaire tax would generate $916 million for the state
It's straightforward.
Billionaires would report the value of their holdings at the beginning and the end of each year
and the increase would be subject to the same rate that everyday Illinoisans already pay on their income.
Progressives are also filing a plan to create a digital advertisement tax to help low-income families.
The Illinois Revenue Alliance believes the tax would rake in $1.1 billion for the state.