TAYLORVILLE, Ill. (WMBD) -- A few days after a new bill was revealed to help fund Chicago and Downstate transit, it was shot down by Gov. JB Pritzker for its new taxes.

The funding mechanisms to the bill were revealed on Tuesday. The proposed taxes include a statewide 7% entertainment tax on streaming services such as Netflix and Hulu, while also applying that tax to live events. Large events would also receive a flat $5 surcharge on all tickets.

Other tax increases include additional speed cameras in the Chicago area, as more people would have to pay speeding tickets. Also, an increased sales tax in Cook County and the Collar Counties, and a 4.95% tax on billionaires' unrealized gains on assets.

It was the "billionaires tax" that caught the attention of Pritzker.

"It’s never been done

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