Budget + Tax Archives

With district spending up, CPS schools still face cuts amid shrinking enrollment

CPS’ 2017-18 budget shows cuts for many schools as student populations shrink, despite an increase in per-pupil spending for the district as a whole.

By Robert Brutvan

New education funding plan repeats Chicago Public Schools bailout history

Senate Bill 1 is yet another unfair bailout of long-term mismanagement within Chicago Public Schools.

By Ted Dabrowski, John Klingner

Rauner calls special session on education finance bill

The special session will deal with Senate Bill 1, an education finance bill that contains an annual $215 million pension bailout for Chicago Public Schools.

By Brendan Bakala

Chicago suburbs eye new dining, alcohol taxes

Suburbs such as Downers Grove make dining out costlier through tax hikes.

By John Kristof

Illinois’ 32% income tax hike shows need for taxpayer bill of rights

Illinois taxpayers deserve to have a voice in budgeting decisions as politicians continually look to hike their taxes.

AFSCME pressuring Cook County Commissioners to raise sales, alcohol, parking and cigarette taxes

AFSCME officials proposed seven tax increases for Cook County as a way to save union jobs, including an increase in the county sales tax, a new head tax and doubling the amusement tax to 6 percent, despite the county’s local tax burden already being among the highest in the nation.

By Chris Lentino

While Chicago Public Schools calls for state bailout, Chicago TIF districts bring in record $561M in revenue in 2016

Slush fund hits record amounts as Chicago looks to the state for a bailout.

By Chris Lentino

CPS to spend an additional $200 per student for the 2017-18 school year

Cash-strapped and debt-ridden Chicago Public Schools plans to increase per-pupil funding by roughly $200 a student over last year’s budget.

By Robert Brutvan

School district sues Mount Prospect, Ill., over TIF

The case against Mount Prospect, Ill., shows how tax increment financing districts siphon tax money from school districts and other taxing bodies, and diverts needed resources and puts pressure on taxpayers to make up the difference.

By Chris Lentino

Illinois’ $5B tax hike will be eaten up by this year’s pension payment

Illinoisans can take a look at their paystubs and notice the state decided to hike their income tax bill by 32 percent.

By Austin Berg

Fitch keeps Illinois’ credit above junk but negative outlook remains

Of the three major ratings agencies, only Moody’s Investors Service has indicated that Illinois lawmakers’ lack of long-term solutions for reducing that debt is a severe problem.

By John Klingner, Evelyn Hussey

Cook County Sheriff sends out 110 layoff notices as soda tax remains on hold

An Illinois appeals court upheld a temporary restraining order on Cook County’s proposed sweetened beverage tax. The Cook County sheriff’s office has sent out 110 layoff notices, citing the soda tax holdup. These layoffs come on top of 300 county worker layoffs. Cook County officials claim at least 1,100 jobs will be lost if the tax does not go into effect.

By Marianna Schmiesing

Illinois school finance bill bails out Chicago

A bill that has passed the Illinois House and Senate would provide CPS with a $215 million pension bailout and other funding carve-outs.

By Ted Dabrowski, John Klingner

Illinois comptroller’s plan to pay off state’s bill backlog includes borrowing more money

Even with 32 percent tax hike, Illinois State Comptroller expects only $5 billion of the state’s unpaid bills to be paid down.

By Marianna Schmiesing