Illinois Thanks Trump: Balances Budget With Gas Tax Windfall From Rising Prices

[citygator]

Well, who would have thought that Donald Trump would be the white knight Illinois needed to balance its budget? Illinois was able to close their entire budget shortfall with increased revenues from gas taxes due to the sky rocketing price of gas. The state owes Donald Trump a thank you for the revenue. Not only does Trump make oil companies rich he is MIGA.. Make Illinois Great Again.

Illinois lawmakers pass $56B budget deal backed by gas tax windfall and some election-year tax breaks

Democrats’ plan calls for diverting $150 million of gas sales tax windfall — money that otherwise would flow to mass transit — to help fund day-to-day state operations and stave off cuts.

www.chicagotribune.com

SPRINGFIELD — Illinois lawmakers went into overtime and worked into the early morning Monday to send Gov. JB Pritzker a nearly $56 billion election-year state spending plan that was balanced, in part, with an anticipated windfall of sales tax revenue resulting from soaring gas prices.

Pritzker and fellow Democrats are building their November general election campaigns around the issue of affordability, blaming Republican President Donald Trump and his allies for cuts to social programs and for rising prices on necessities — most notably gasoline, which has jumped from an average of about $2.91 per gallon in Chicago to $4.82 since the Iran war began in late February.

 

[petro]

Only a temporary reprieve.
Dems will continue to tax and spend into oblivion

 

[1srelluc]

Look at what the OP left out!

The budget plan will cost Illinois residents and businesses over $800 million in new taxes. It includes tax hikes on corporations, social media, and cryptocurrency.....The budget also hiked lawmaker pay by three percent.

https://wgntv.com/news/illinois/illinois-lawmakers-pass-56b-budget-largest-in-state-history/#:~:text=Illinois%20lawmakers%20have%20approved%20a%20%2456bn%20state%20budget,residents%20and%20businesses%20over%20%24800m%20in%20new%20taxes.

 

[pknopp]

Another example of "make the rich pay their fair share" while in reality this added cost hurt the poor and middle class.

 

[1srelluc]

OP is busted again.

 

[SassyIrishLass]

They didn't address Illinois 144 billion in unfunded public pension debt

 

[my2¢]

My immediate thought is that this seems odd to me. I thought gasoline taxes were a fixed cost per gallon. Thus, I would think higher gas prices would reduce travel and cut state revenue. I'll now read the OP's linked article to learn something.

A moment later.... I didn't have access to article as I didn't want to provide email. Did a jump to Google and AI provided this about Illinois gas tax:

In addition to the fixed per-gallon excise tax, Illinois is one of only a few states that applies its 6.25% general sales tax to motor fuel. When combining the fixed tax, state sales tax, and local or county/municipal taxes, Illinois drivers frequently pay among the highest gas taxes in the country, often exceeding $0.85 per gallon at the pump.

 

[citygator]

OP is busted again.

Gas taxes closed the budget. Trump drove prices up so that the revenue is up. What is busted? Just the fact that rising gas prices and taxes suck? Blame Donald.

 

[1srelluc]

In addition to the fixed per-gallon excise tax, Illinois is one of only a few states that applies its 6.25% general sales tax to motor fuel. When combining the fixed tax, state sales tax, and local or county/municipal taxes, Illinois drivers frequently pay among the highest gas taxes in the country, often exceeding $0.85 per gallon at the pump.

Shit, now you have done it.....Spanberger & Co. will think:

 

[1srelluc]

Gas taxes closed the budget. Trump drove prices up so that the revenue is up. What is busted? Just the fact that rising gas prices and taxes suck? Blame Donald.

You were caught in a lie of omission.....Busted!

 

[Frankeneinstein]

Well, who would have thought that Donald Trump would be the white knight Illinois needed to balance its budget? Illinois was able to close their entire budget shortfall with increased revenues from gas taxes due to the sky rocketing price of gas. The state owes Donald Trump a thank you for the revenue. Not only does Trump make oil companies rich he is MIGA.. Make Illinois Great Again.

reads like an honest confession...further proof that tax cuts work as a gas tax is really everyone paying their fair share croc

 

[eagle1462010]

Gas taxes closed the budget. Trump drove prices up so that the revenue is up. What is busted? Just the fact that rising gas prices and taxes suck? Blame Donald.

I suppose next you will tell us how you help the poor huh?

 

[Gabe Lackmann]

People are so economically retarded.
It's not a win. When gas rises, other real costs will as well. Diesel is up 75%. If you think this is good for a city's budget, I have a bridge to sell.
Once again. This isn't magic, you fkng morons.
Job growth is negative, inflation is climbing like a rocket, and wages are not keeping up.
Everything is going to continue to climb, along with unemployment, homelessness, welfare claims, PLUS city costs.
Have fun being n***** rich though, for a few months anyway.

 

[citygator]

You were caught in a lie of omission.....Busted!

Whats the omission genius?

 

[Cellblock2429]

Well, who would have thought that Donald Trump would be the white knight Illinois needed to balance its budget? Illinois was able to close their entire budget shortfall with increased revenues from gas taxes due to the sky rocketing price of gas. The state owes Donald Trump a thank you for the revenue. Not only does Trump make oil companies rich he is MIGA.. Make Illinois Great Again.

Illinois lawmakers pass $56B budget deal backed by gas tax windfall and some election-year tax breaks

Democrats’ plan calls for diverting $150 million of gas sales tax windfall — money that otherwise would flow to mass transit — to help fund day-to-day state operations and stave off cuts.

www.chicagotribune.com

SPRINGFIELD — Illinois lawmakers went into overtime and worked into the early morning Monday to send Gov. JB Pritzker a nearly $56 billion election-year state spending plan that was balanced, in part, with an anticipated windfall of sales tax revenue resulting from soaring gas prices.

Pritzker and fellow Democrats are building their November general election campaigns around the issue of affordability, blaming Republican President Donald Trump and his allies for cuts to social programs and for rising prices on necessities — most notably gasoline, which has jumped from an average of about $2.91 per gallon in Chicago to $4.82 since the Iran war began in late February.

/-----/ Because cutting spending never entered their tiny brains.

 

[1srelluc]

LOL....Looks like IL did delay another gas tax hike to January.