Budget + Tax

Chicago now home to the nation’s highest sales tax

Chicago now home to the nation’s highest sales tax

Buying local just got a lot less appealing for Chicagoans. The city reclaimed the highest sales-tax rate of any major city in the nation on July 15, when the Cook County Board, which oversees Illinois’ largest city, voted to raise its portion of the sales tax, bringing Chicago’s combined rate to 10.25 percent from 9.25...

By Hilary Gowins

Rauner vetoes raises for state lawmakers

Rauner vetoes raises for state lawmakers

Like so many Illinoisans working in a stagnant state economy, state lawmakers will not receive pay raises this year. But House Speaker Mike Madigan and Senate President John Cullerton will still receive bonuses in excess of $25,000.

By Austin Berg

3 prevailing budget truths for Illinois

3 prevailing budget truths for Illinois

Three facts prove that sensible spending coupled with pro-growth reforms is the solution to the current crisis. 1. Illinois has a spending problem. Not a revenue problem. If Illinois spending had grown at the same rate as inflation and Illinois’ population, the state’s expenditures would have been $8 billion less than they were in 2014. Extending...

By Ted Dabrowski