This coming Independence Day, motorists fueling up in Illinois will be paying even more at the gas pump.
Chicago Ald. Will Hall, 6th ward, proposed 16 new tax and fee hikes to fellow city council members in a survey.
Illinois leaders keep hoping for big wins from casinos and other gambling, but the newest casino in Chicago shows expectations are too high again.
This episode of The Policy Shop is by Bryce Hill, director of fiscal and economic research. It’s all just numbers, right? $53.1 billion? Why, with 12.5 million Illinoisans, that will only cost a family of four about $17,000. A mere pittance for all the good done by the state politicians who generously spend other people’s...
The state has enormous debts, and state leaders must pay it down or legally restructure obligations. Until they do, the painful reality is we can’t afford new spending.
A cap on the retailers’ sales tax credit will effectively hikes taxes on Illinois retailers by $186 million. Retailers are already facing razor-thin margins, but the record $53.1 billion state budget required $1.1 billion in new taxes.
The new state budget eliminates the 1% grocery tax, placing Illinois with 37 other states by 2026. But the bill gives municipalities the option to implement their own tax without voter approval.
Illinois state lawmakers’ spending plans came in $410 million higher than what Gov. J.B. Pritzker originally proposed. Taxpayers will be forced to pay $1.1 billion more so Illinois can spend record amounts in fiscal year 2025.
The typical racing fan will pay an extra $22 for general admission to Chicago’s NASCAR “Street Race Weekend” thanks to the city’s amusement tax. Luxury seating could cost residents more than the price of a standard ticket in taxes alone.
AAA’s travel forecast estimates 43.8 million people will hit the road for Memorial Day weekend, nearly matching the 2005 record of 44 million people.
After July 1, Illinois motorists will be averaging $184 more in state gas taxes since Gov. J.B. Pritzker doubled them in 2019. Illinois motorists already pay the second-highest gas taxes in the nation, and inflation adjustments just take them higher.
Chicago Teachers Union leadership opposed publicly funded stadiums in 2013. That’s changed: Chicago’s mayor is pushing a Bears football stadium deal needing billions in tax subsidies. And his pals in CTU leadership have yet to speak out about it.
In Illinois’ fifth year of recreational cannabis sales, it’s already made nearly $180 million in tax revenue. But it is losing sales to neighboring states with lower taxes.
Illinois has the worst rainy-day fund in the nation and has only enough cash to last for 15 days. It’s the only state that wouldn’t last a month.