A new bill would repeal an outdated Illinois business tax. The franchise tax is tough to calculate, most businesses don’t owe it and it generates little revenue in a state that already hits businesses hard with other taxes.
Illinoisans pay the second-highest gas taxes in the nation at more than $0.84 per gallon. Only California charges its drivers more.
Illinois Gov. J.B. Pritzker invoked a fairy tale about magic beans and a giant during his annual state of the state and budget address. Too bad he forgot to take an ax to the giant, record-setting budget he has grown by $16.7 billion since taking office.
Illinois Gov. J.B. Pritzker’s favorability is at exactly 50% ahead of his annual budget address, a chance to win over the 46% of voters with an unfavorable opinion of him. But based on his history of aggressive spending and taxation, what are the odds?
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.