Gas was $3.05 per gallon in Illinois. It was over $1 higher than a year ago and the highest since the state gasoline tax doubled to 38 cents per gallon and is set to increase again July 1.
Judge rules in favor of two former state senators seeking the back pay they rejected and then crowed about rejecting. Ruling applies only to the pair.
Combine the corporate tax rate President Joe Biden wants to fund his infrastructure plan with Illinois’ tax, and the resulting rate would be 35.4% – fifth highest in the nation and second in the Midwest.
A bipartisan ‘spending cap’ bill would allow predictable, sustainable growth in state spending without tax hikes. Illinois is one of the few states without a similar fiscal restraint.
A bill to eliminate some of Illinois’ 1,400 townships is on hold, but state lawmakers could revive it and give voters the power to reduce their property tax bills.
Increasing the estate tax would hurt family farms and businesses, drive wealth and investment out of Illinois. Most states are ending their ‘death taxes.’
Despite pushing hard for a progressive state income tax, Gov. J.B. Pritzker criticized the impact of the same policy at the national level for what it means for Illinois.
COVID-19 prompted $7.5 billion in federal relief, but state revenues were up during the past 8 months. Delayed tax due dates were partly responsible, but revenue even grew where it should have declined. So why should small businesses have to come up with $2 billion more?
Small businesses got federal tax relief to handle the COVID-19 economic downturn. Now Springfield is trying to take away the same break on state taxes, costing the state’s main job creators $1 billion with hundreds of thousands of Illinoisans still out of work.
Illinois has a chance to fix its state finances, thanks to federal relief. But unless pension growth is brought under control, both retirees and taxpayers will be at risk as debt continues to consume state services.
Federal tax relief was championed so small businesses could better deal with COVID-19 economic impacts. Gov. J.B. Pritzker wants to undo that relief to keep $1 billion in state taxes from Illinois small businesses.
Illinois spent nearly four times faster than Bridgeview incomes grew during the past decade. A bipartisan ‘spending cap’ bill would allow predictable, sustainable growth in state spending without tax hikes.
Illinois households pay nearly $9,500 on average in state and local taxes, which at 15% of their income is the nation’s highest. WalletHub finds gasoline taxes pushed Illinois to No. 1.
Illinois Gov. J.B. Pritzker approved doubling the state gas tax in 2019 and gave some counties and Chicago the power to hike local gas taxes. Lake County is the latest to consider doing so.