With billions in federal COVID-19 relief earmarked for Illinois schools and local government, Gov. J.B. Pritzker pushed them to use the money to lower or freeze property taxes. He made no mention of the state’s role in pushing property taxes to the second-highest in the U.S.
“High and growing property taxes here tend to depress home values.”
Illinois is again delaying the sale of the Thompson Center state office building in Chicago, which was neglected until the state could no longer afford to fix it. The state’s new delay is to take advantage of zoning changes and in the hope office space prices rebound.
Fiscal watchdog Truth in Accounting’s July 2021 report showed the Windy City’s pension-fueled debt rose by $2.3 billion from 2019 to 2020 despite receiving substantial federal aid during the pandemic.
Illinois drivers now pay the second-highest taxes on their gasoline in the nation, a new survey found. Before the state doubled the gas tax, Illinois ranked much lower.
Out of 150 cities, Chicago came in almost at the bottom when the quality of city services and the total budget per capita were ranked, confirming what most Chicagoans already knew.
Gov. J.B. Pritzker said he achieved a balanced budget each year he has been in office. Not true, according to official state comptroller financial reports. Illinois budgets have been in the red for 21 years in a row.
A recent report from the Illinois Department of Employment Security revealed the state lost at least $14.8 million to fraudsters during the pandemic. But experts warn the full extent of state fraud could be closer to $1 billion.
With an abundance of freight lines and roadways, along with a reliable power grid, Illinois placed No. 1 in the U.S. for infrastructure. But state finances are a threat, and political pork needs to give way to projects that move the most people and goods.
Illinoisans pay one of the highest sales tax rates in the nation when local and state sales taxes are averaged. The average rate of 8.83% was up slightly from a year earlier.
Illinois employers are hurting from a lack of workers while the state unemployment rate remains high. When a parent can stay home and make $51,627 on unemployment, the prospects of getting more workers back to work this summer appear dim.
A Volcker Alliance report on truth and integrity in state budgeting finds Illinois lacking. Debt, budget gimmicks and thin reserve funds gave the state poor marks.
The first step of passing a budget is to determine how much is available to spend. Illinois routinely misses the mark in estimating future revenues. There is a solution.
The minimum wage for residents working in Chicago and Cook County is increasing July 1. Research suggests the rise in wage rates will benefit the working Chicagoans at the expense of the city’s vulnerable unemployed.