Illinoisans bet more than $275 million on March Madness in 2022, with the state netting more than $2 million in tax revenue. Revenue totals for sports betting in 2022 were the second highest in the nation behind New York.
Brandon Johnson’s mayoral campaign still states his six new taxes on “the suburbs, airlines and ultra-rich” would generate $800 million, even after he dropped his Metra tax. But the math is fuzzy, especially his claim $800 million can become $2 billion.
New polling shows more than one-third of Chicago voters would leave the city if they could, citing taxes and affordability as a top concern. Mayoral candidate Brandon Johnson’s $800 million tax hike could make them move out faster.
In an Illinois Policy Institute poll, 69% of surveyed Chicago voters supported freezing property taxes.
The Chicago Bears have purchased the former Arlington Park Racetrack for $197.2 million. Chicagoans are still on the hook for $640 million for Soldier Field renovations from 2002.
Illinois Gov. J.B. Pritzker wants to spend $440 million for universal preschool and other initiatives for low-income young children. But shouldn’t Illinois pay its old bills before taking on new expenses?
Here’s what Illinois Gov. J.B. Pritzker had to say about how Illinois is faring and what his priorities will be in the fiscal year 2024 budget.
After years of enhanced revenue from federal aid, a return to the basic principles of budgeting can put Illinois on the path to long-term financial stability
Fiscal watchdog Truth in Accounting found Chicagoans are each responsible for the second-most debt in the nation. It again gave the city an ‘F’ grade despite improvements from one-time federal COVID-19 aid and unusually high pension investment returns.
Before deciding who best can lead Chicago through its financial problems, it helps to understand what those problems are. Here’s a primer.
Illinoisans shopping for Valentine’s Day will pay the highest sales tax in the Midwest and eighth-highest in the nation.
Illinoisans gave up $50 on average to fines and fees last year. That’s the second-most in the nation and almost double the U.S. average.
Chicago Teachers Union lobbyist and mayoral candidate Brandon Johnson unveiled his ‘tax-the-rich’ revenue plan, including $800 million in new taxes on suburbanites and those who come to the city to work or play.
Low-tax states attract the majority of movers, while high-tax states push them away. Illinois takes nearly 13% of all money made in the state as taxes, and lost 141,656 residents in 2022.