Chicago City Council considers 16 new tax and fee hikes
Chicago City Council considers 16 new tax and fee hikes
Chicago Ald. Will Hall, 6th ward, proposed 16 new tax and fee hikes to fellow city council members in a survey.
Bally’s casino in Chicago continues to underperform
Bally’s casino in Chicago continues to underperform
Illinois leaders keep hoping for big wins from casinos and other gambling, but the newest casino in Chicago shows expectations are too high again.
The Policy Shop: Springfield’s bad budgeting
The Policy Shop: Springfield’s bad budgeting
This episode of The Policy Shop is by Bryce Hill, director of fiscal and economic research. It’s all just numbers, right? $53.1 billion? Why, with 12.5 million Illinoisans, that will only cost a family of four about $17,000. A mere pittance for all the good done by the state politicians who generously spend other people’s...
Editorial: Illinois’ spending plan is divorced from its fiscal reality
Editorial: Illinois’ spending plan is divorced from its fiscal reality
The state has enormous debts, and state leaders must pay it down or legally restructure obligations. Until they do, the painful reality is we can’t afford new spending.
Illinois retailers taxed $186M by capping sales tax credit
Illinois retailers taxed $186M by capping sales tax credit
A cap on the retailers’ sales tax credit will effectively hikes taxes on Illinois retailers by $186 million. Retailers are already facing razor-thin margins, but the record $53.1 billion state budget required $1.1 billion in new taxes.
Illinois’ new budget ends statewide grocery tax
Illinois’ new budget ends statewide grocery tax
The new state budget eliminates the 1% grocery tax, placing Illinois with 37 other states by 2026. But the bill gives municipalities the option to implement their own tax without voter approval.
Illinois General Assembly OKs $1.1B in tax hikes for record $53.1B spending
Illinois General Assembly OKs $1.1B in tax hikes for record $53.1B spending
Illinois state lawmakers’ spending plans came in $410 million higher than what Gov. J.B. Pritzker originally proposed. Taxpayers will be forced to pay $1.1 billion more so Illinois can spend record amounts in fiscal year 2025.
2024 NASCAR ticket price up to $270 higher thanks to Chicago tax
2024 NASCAR ticket price up to $270 higher thanks to Chicago tax
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.
Illinois Memorial Day drivers face 2nd-highest gas taxes in nation
Illinois Memorial Day drivers face 2nd-highest gas taxes in nation
AAA’s travel forecast estimates 43.8 million people will hit the road for Memorial Day weekend, nearly matching the 2005 record of 44 million people.
Illinois state gas tax to hit 47 cents July 1
Illinois state gas tax to hit 47 cents July 1
After July 1, Illinois motorists will be averaging $184 more in state gas taxes since Gov. J.B. Pritzker doubled them in 2019. Illinois motorists already pay the second-highest gas taxes in the nation, and inflation adjustments just take them higher.
Editorial: Chicago Teachers Union leaders flip-flop on taxpayer-funded stadiums
Editorial: Chicago Teachers Union leaders flip-flop on taxpayer-funded stadiums
Chicago Teachers Union leadership opposed publicly funded stadiums in 2013. That’s changed: Chicago’s mayor is pushing a Bears football stadium deal needing billions in tax subsidies. And his pals in CTU leadership have yet to speak out about it.
How does Illinois spend millions in cannabis cash?
How does Illinois spend millions in cannabis cash?
In Illinois’ fifth year of recreational cannabis sales, it’s already made nearly $180 million in tax revenue. But it is losing sales to neighboring states with lower taxes.
Illinois has worst rainy-day fund in nation
Illinois has worst rainy-day fund in nation
Illinois has the worst rainy-day fund in the nation and has only enough cash to last for 15 days. It’s the only state that wouldn’t last a month.
Pritzker’s new budget would create state child tax credit
Pritzker’s new budget would create state child tax credit
Illinoisans with children younger than 3 could soon get a break on their state taxes. Gov. J.B. Pritzker’s newest budget would let qualifying parents around the state keep $12 million in taxes.