Illinois Policy Institute experts available to comment on proposed Cook County taxes

FY2013 budget includes cigarette tax hike, guns and ammo taxes and more taxes on businesses

MEDIA AVAILABILITY: TODAY
ILLINOIS POLICY INSTITUTE

MEDIA CONTACT: Diana Rickert
Diana@IllinoisPolicy.org or (312) 607-4977

WHAT: Cook County Board President Toni Preckwinkle has proposed higher taxes to close a projected $267.5 million budget shortfall. Preckwinkle’s proposal includes a cigarette tax increase, gun tax, ammunition tax and higher taxes on businesses who seek cost-effective solutions in neighboring communities.

The county is holding a public hearing on the budget this morning. Representatives from the Illinois Policy Institute will speak at the hearing about why the proposed budget will hurt the economy in Cook County and not solve structural problems. Institute experts will be available throughout the day for comment.

WHERE: The budget hearing is from 9 a.m. to noon today. Illinois Policy Institute experts will be available at the hearing and upon request at the Institute office, 190 S. LaSalle.

WHO:
John Tillman, CEO of Illinois Policy Institute
Ted Dabrowski, Vice President of Policy at Illinois Policy Institute

WHEN: Experts are available all day today.

TALKING POINTS:

• The proposed cigarette tax is expected to generate $25.6 million next year, which represents 10 percent of the budget deficit. However, cigarette taxes rarely generate as much money as anticipated. A study by National Taxpayers Union found that 70 percent of tobacco tax increases are followed by more tax increases within two years.
• Cook County Board President Toni Preckwinkle claims the cigarette tax will help people stop smoking. But if people stop buying cigarettes, how will the tax generate revenue to close the budget whole?
• Businesses should not be penalized for trying to find the most cost-effective solution to keeping their doors open. Taxing them for making major purchases outside the county is bad public policy.

For interviews, contact: Diana Rickert (312) 607-4977

The Illinois Policy Institute is a nonpartisan research and education organization dedicated to making Illinois a beacon for liberty and prosperity for all citizens. As a leading voice for economic liberty and government accountability, the Institute engages policy makers, opinion leaders and citizens on the state and local level by promoting free market principles and liberty-based public policy initiatives for a better Illinois. To learn more about the Institute or review policy briefs, please visit: www.illinoispolicy.org.