President Trump’s tax cuts just saved Illinois from itself! Chicago Tribune reports:
Gov. J.B. Pritzker is setting aside a controversial proposal to reduce the state’s payment to its severely underfunded pension plans for the coming budget year after tax revenue collected last month far exceeded expectations.
Due to a variety of factors, including changes that resulted from the recent federal tax overhaul [emphasis added], the state’s individual and corporate income tax revenue in April was more than $1 billion higher than what came in during the same month a year ago, according to a letter Illinois Department of Revenue Director David Harris and Pritzker budget director Alexis Sturm sent to legislative leaders.
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The tax windfall, coupled with other revenue collected throughout the year, will be enough to cover most of the state’s projected $1.6 billion deficit for the current budget year, according to Harris’ letter.
Let’s take a look at that again because it’s worth repeating:
“Due to a variety of factors, including changes that resulted from the recent federal tax overhaul”
Wow! That’s amazing. The people of Illinois (and who knows how many other states) owe Trump and Republicans a big thank you and several deep throated apologies.
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The funny thing is, if you read the article you’d be forgiven for not knowing how that “federal tax overhaul” came about. Not one mention of Trump or Republicans. It’s as if the taxes spontaneously cut themselves. Oh yeah, Fake News Tribune also fails to mention the words “tax cut” in the article.
WINNING! @POTUS @RealDonaldTrump’s tax breaks saved Illinois pensions from funding cuts in this year’s budget! Yet somehow #FakeNews Tribune fails to mention the words Trump or Republican in their article. The tax cuts just magically happened. https://t.co/EQfOnTjcaR
— Bright Start News (@BRIGHTstrt) May 8, 2019
Some people did some things to the taxes.
