Gov. J.B. Pritzker said raising taxes or hiking pension benefits are not first choices for in his fiscal year 2026 budget. The governor said Illinois needs to “live within our means in this state.”
The Illinois Constitution currently requires income taxes to be imposed at a single, flat rate. A new bill filed in the Illinois General Assembly would allow for income to be taxed at varying rates, making it easier for lawmakers to raise rates.
After years of splurging with revenue boosted by temporary federal aid, future deficits over $5 billion await the Illinois state budget. It’s time Illinois state leaders learn from past mistakes and manage other people’s money responsibly.
When local governments must comply with a new state law, it often increases costs. Those costs are passed on to the taxpayer.
Chicago might have just avoided a property tax hike, but city leaders couldn’t figure out how to pass the 2025 budget without other tax and fee increases. Here’s what the city should do to avoid repeating the same budgeting mistakes next year.
Already 46 towns around Illinois have voted to impose a 1% grocery tax in 2026. Other Illinoisans will start to save 1% on groceries when the statewide tax ends.
You might celebrate the holiday season by indulging in not-so-healthy habits. State lawmakers are encouragingly discouraging you for the sake of their budget.
In 2015 Chicago became the first city to add its 9% amusement tax when you streamed your favorite holiday shows or Christmas carols. It was one of the nation’s highest. But in 2025 it increases to 11% as the city tries to squeeze another $12.9 million from viewers.
Holiday scratch-off tickets are a popular stocking stuffer. Illinoisans dropped about $2 billion on tickets in a year, and it’s the biggest moneymaker for the Illinois Lottery.
Chicago Mayor Brandon Johnson was denied a $300 million property tax hike, then a $150 million property tax hike, then a $68.5 million property tax hike. He got his 2025 city budget, and aldermen forced him to keep his campaign pledge not to raise property taxes.
AAA estimates nearly 120 million people will travel 50 miles or more this holiday season. Most of those will travel by car, so Illinois’ gas taxes will make it an expensive ride for them.
“My husband and I own a couple hundred acres. When I heard about the tax on wooded acreage going up, I emailed the assessor. My previous tax bill was $756. I found out that was going to go up over $10,000.” “What I’ve learned from [state Rep. Wayne] Rosenthal is that when this law passed...
Chicago Mayor Brandon Johnson failed to rally the votes for a record $17.3 billion budget imposing $68.5 million in property tax hikes. City leaders have another chance to fix the budget. Here’s how they can do it.
The current owners of Kevin McCallister’s house from the “Home Alone” movie will pay nearly $50,000 in property taxes this year. Illinoisans pay more than twice as much as the typical American in property taxes.