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(Peoria, IL, April 18, 2024) – Governor Pritzker has proposed a permanent sales tax cut on groceries in the State budget to provide crucial relief for Illinois families and businesses. BizPAC strongly encourages the Peoria City Council to support this measure and refrain from imposing new taxes.
With only thirteen states still levying a grocery tax, eliminating it will enhance Illinois' competitiveness. Current tax rates burden citizens and businesses, hindering growth and prompting population decline. A recently released report from WalletHub showed taxpayers in Illinois have the highest effective total state & local tax rates in the Country. To address this, we must curb excessive spending at both state and municipal levels. The proposed tax cut is a step toward making the Greater Peoria area more attractive for talent and investment.
BizPAC supports the Peoria City Council to prioritizing spending cuts over tax hikes. Peoria's budget has ballooned to $324 million in FY2024, an incredible increase from under $200 million in FY2017. BizPAC encourages the Council to identify and trim $4 million in unnecessary expenses to realize the benefits of tax relief. The Council can promptly review options and enact budget changes to align with Governor Pritzker's proposal. Acting swiftly will ensure timely implementation and tangible relief for taxpayers. The business community wants relief from inflation and this tax break will help deliver that. We look forward to working with the City Council to identify areas to cut spending so we do not have to impose new taxes.
Thank you,
The Board of Directors of the Business PAC of Central Illinois
For more information please contact info@bizpacillinois.com
