Chicago Mayor Brandon Johnson and progressive allies said the city can find fiscal flexibility by taxing big business. The city is already home to the second-highest commercial property taxes in the nation.
Illinois state lawmakers had tried to bump their pay by 5.5%, but that violated the state constitution. The must settle for 5%, meaning they will make nearly $90,000 a year.
Illinois’ rainy-day fund is at an all-time high, but remains $6.6 billion less than recommended by state budget experts. Illinois state government can operate for fewer than 13 days on what it’s saved.
Illinoisans will notice more expensive food July 1 when Gov. J.B. Pritzker’s election-year suspension of the grocery tax expires. Only Illinois and 12 other states will tax groceries then.
Illinoisans face the second gas tax hike of 2023 on July 1. The 3.1 cent hike doesn’t need lawmaker approval, thanks to state leaders implementing automatic gas tax hikes.
The typical racing fan will pay an extra $22 for general admission to Chicago’s NASCAR “Street Race Weekend” thanks to the city’s amusement tax. Luxury seating could cost residents more than the price of a standard ticket in taxes alone.
An ominously titled document by close confidants of new Chicago Mayor Brandon Johnson states the new administration’s top priority is to take more money from households making $100,000 or more to fund what they claim is a “just Chicago.”
Gov. J.B. Pritzker’s temporary tax relief expires July 1 when Illinois reinstates the grocery tax instead of joining the 37 states that don’t tax groceries at all.
Illinoisans face the second gas tax hike of 2023 on July 1. The 3.1 cent hike doesn’t need lawmaker approval, thanks to Gov. J.B. Pritzker implementing automatic gas tax hikes.
Memorial Day weekend means millions will hit the road, but Illinoisans should try and fill up across states lines to avoid some of the nation’s highest gas taxes.
Illinois just saw a $1.76 billion drop in state income tax collections, proving what a new study just showed: state tax policies give it the nation’s eighth-most volatile revenues. That also makes Illinois very vulnerable when a recession hits.
April 2023 Illinois state income tax collections came in $1.8 billion lower than April 2022, leading state forecasters to make massive cuts in expected 2023 revenue.
Illinois is eighth in the nation for most expensive gas, and reduced oil production in May could drive prices even higher. It all means more taxes for the state.
Illinois’ congressional Democrats asked for an additional $25 million to pay for security at the 2024 Democratic National Convention in Chicago. Host cities typically receive $50 million.