Shattered Confidence In Illinois Government May Doom Even a Good Capital Bill
https://wirepoints.org/shattered-confidence-in-illinois-government-may-doom-even-a-good-capital-bill/Governor Pritzker proposed a $41.5 billion “Rebuild Illinois” capital spending plan backed by a list of new middle class taxes. Its size probably will be cut and the projects to be funded remain to be negotiated, though widespread recognition of legitimate capital needs means there’s a good shot something will pass.
But how will the public view it? Even if it’s negotiated into something reasonable, a major backlash may loom that could enrage the public and accelerate flight from Illinois.
There’s a case to be made for a capital spending program. In the world of government finance, capital spending is seen differently than routine budget spending. Capital spending goes towards building or maintaining assets of long-term value like highways, airports and transit stations.
Illinois is in dire financial situation, along with New Jersey, Massachusetts, and Connecticut.
Their answer is more taxes.
