Illinois lawmakers are looking at a bill that would cut sales taxes during back-to-school shopping. Illinois hasn’t had a sales tax holiday in years. The bill would lower the state sales tax from 6.25% to 1.25% on clothes and school supplies for six days in August 2025.
With 90% voting “no,” Bensenville voters shot down a grocery tax proposal. Illinois’ statewide grocery tax is ending at the end of 2025, but some local leaders want it to stay.
Fears have grown that more efficient cars mean less money for Illinois to fund roads. But the state already collects higher revenues than ever while burdening drivers with high taxes and fees.
Illinois will impose the nation’s seventh-highest state and local tax burden on residents in 2025. Taxpayers on average will pay over 10% of their annual income to support government, according to WalletHub.
Illinois lawmakers can’t budget responsibly if they don’t know how much they have. Governors have a history of fudging the numbers to get what they want.
Typical property tax bill increased 78% on a Cook County residence since 2007. Median property values only rose 7.3%. That leaves residents paying $2,558 more a year in property taxes while their biggest investment fails to keep up with inflation.
Voters near O’Hare International Airport will have a chance to weigh in on whether to keep or cut the 1% grocery tax. The statewide tax ends in 2026, but nearly 50 communities have already passed their own 1% grocery tax.
Each Chicago taxpayer is on the hook for $40,600 in city debt today, the second most among major U.S. cities. Add in the debt Illinois state leaders grew last year, and Chicago taxpayers owe nearly $80,000.
House Bill 2574 aims to empower parents and taxpayers with more access to information about the Illinois State Board of Education’s spending.
Illinoisans will wager roughly $400M during March Madness based on last year’s numbers. Sportsbooks in Illinois will also be paying a higher tax than ever before.
There’s another push in Springfield to tax motorists by the mile. Illinoisans already pay the second-highest gas taxes in the nation behind only California.
A new bill in Springfield would require the Chicago Bears and other teams to have a few winning seasons before they can expect taxpayer help for stadiums.
Illinois families will pay the highest combined state and local tax burden in the nation this year on the median U.S. income. That’s $13,099, which will consume more than 16.5% of their money.
Illinois is dead last of the 50 states in its ability to handle a financial crisis. It couldn’t last a month. The rainy-day fund that should be its primary reserve, and that Gov. J.B. Pritzker lauded himself for refilling, could barely cover two weeks.