Slush fund hits record amounts as Chicago looks to the state for a bailout.
Cash-strapped and debt-ridden Chicago Public Schools plans to increase per-pupil funding by roughly $200 a student over last year’s budget.
The case against Mount Prospect, Ill., shows how tax increment financing districts siphon tax money from school districts and other taxing bodies, and diverts needed resources and puts pressure on taxpayers to make up the difference.
Illinoisans can take a look at their paystubs and notice the state decided to hike their income tax bill by 32 percent.
Of the three major ratings agencies, only Moody’s Investors Service has indicated that Illinois lawmakers’ lack of long-term solutions for reducing that debt is a severe problem.
An Illinois appeals court upheld a temporary restraining order on Cook County’s proposed sweetened beverage tax. The Cook County sheriff’s office has sent out 110 layoff notices, citing the soda tax holdup. These layoffs come on top of 300 county worker layoffs. Cook County officials claim at least 1,100 jobs will be lost if the tax does not go into effect.
A bill that has passed the Illinois House and Senate would provide CPS with a $215 million pension bailout and other funding carve-outs.
Even with 32 percent tax hike, Illinois State Comptroller expects only $5 billion of the state’s unpaid bills to be paid down.
Illinois homeowners’ property taxes are among the highest in the nation. They are consuming more and more of Illinoisans’ incomes.
An Illinois appeals court upheld a temporary restraining order on Cook County’s proposed sweetened beverage tax. Cook County officials claim 1,100 jobs will be lost if the tax does not go into effect.
Chicago Mayor Rahm Emanuel expressed little concern over Moody’s Investors Service’s announcement that it might downgrade Chicago’s already-junk-rated bonds over CPS budget problems.
After speaking with folks in Round Lake for months, we knew the families of Lake County had each other’s backs when times were tough. We knew these communities were strong. But the events of this week have revealed the true strength of those ties. The families of Lake County are now working tirelessly to rebuild...
As part of the just-enacted state budget, the General Assembly has moved up the expiration of a tax break for sales of gasoline mixed with ethanol. This will likely make the price at the pump go up.
Illinois’ bond rating may not be junk, but the state’s finances still are.