$4.9B in pension, debt costs squeeze essentials from Chicago 2024 budget
$4.9B in pension, debt costs squeeze essentials from Chicago 2024 budget
Pension contributions and debt service now take up 40% of Chicago’s city’s budget.
The Policy Shop: Chicago’s accelerating wealth flight
The Policy Shop: Chicago’s accelerating wealth flight
This edition of The Policy Shop is by policy advisor Paul Vallas. Chicago Mayor Brandon Johnson’s promises are colliding with his problems, which will be on full display today when he delivers his budget address to the City Council. There’s a $538 million projected deficit. There are over 17,000 migrants expected to cost the city...
Chicago starts taxing ChatGPT, artificial intelligence
Chicago starts taxing ChatGPT, artificial intelligence
Chicago levies a 9% tax on leased computer software, which the city now claims includes artificial intelligence such as ChatGPT.
Vallas: Call Johnson’s real estate transfer tax what it really is: a commercial property tax
Vallas: Call Johnson’s real estate transfer tax what it really is: a commercial property tax
Brandon Johnson’s ‘Bring Chicago Home’ transaction tax is primarily a tax on the already overburdened and depressed commercial property owners.
Vallas: Chicago needs tools, transparency for responsible budgeting
Vallas: Chicago needs tools, transparency for responsible budgeting
Chicago Mayor Brandon Johnson is continuing the mayoral tradition of giving the City Council and public too little time and too little information before a deficit city budget is passed. There’s little chance that will change soon, but it could be fixed.
Chicago Mayor Brandon Johnson, 48 aldermen accept pay raises
Chicago Mayor Brandon Johnson, 48 aldermen accept pay raises
Despite budget experts predicting a $538 million shortfall next year between Chicago’s spending and revenues, only two city leaders opted to forgo automatic pay raises provided to top public servants in September. The mayor and 48 aldermen took theirs.
Southern Illinois taxpayers spend $134.4M since 2002 to keep airport open
Southern Illinois taxpayers spend $134.4M since 2002 to keep airport open
An underused airport near Belleville, Illinois, has required local taxpayers to chip in $134.4 million since 2002 to keep it operating.
Illinois cannabis buyers pay 89% more than U.S. average
Illinois cannabis buyers pay 89% more than U.S. average
The new report published by Headset found Illinoisans are paying 89% more for the average cannabis item than the rest of the nation. Researchers attribute the high prices to stifled competition.
What does Chicago’s mayor need to impose his revised ‘mansion tax’?
What does Chicago’s mayor need to impose his revised ‘mansion tax’?
Chicago Mayor Brandon Johnson has reportedly compromised on his proposed mansion tax in favor of a graduated real estate tax. What needs to happen before he can start collecting the extra taxes?
Illinoisans pay 2nd highest gas taxes in the nation
Illinoisans pay 2nd highest gas taxes in the nation
Illinoisans pay the nation’s second-highest gas taxes behind California thanks to Gov. J.B. Pritzker’s automatic gas tax hikes. Illinois motorists faced two hikes in 2023.
Cook County property taxes rise most in suburbs
Cook County property taxes rise most in suburbs
While most Cook County residents have seen property taxes rise, the suburbs saw the biggest hikes during the past 20 years. Chicago homeowners and business owners are feeling less tax pain than their suburban peers.
Up 40% or down 40%, Chicago property taxes all over the map
Up 40% or down 40%, Chicago property taxes all over the map
Chicago’s residential property taxes between 2020 and 2021 were pretty volatile. Don’t be happy about a big drop, though, because it might mean your home isn’t worth as much.
No election? No break on Illinois back-to-school supplies
No election? No break on Illinois back-to-school supplies
Iowa, Missouri, Ohio and Tennessee are all having back-to-school sales tax holidays. Not Illinois, where state leaders saw the need during the 2022 election.
June cannabis sales highest of year, 3rd highest ever for Illinois
June cannabis sales highest of year, 3rd highest ever for Illinois
Illinois dispensaries sold $136 million in marijuana during June, the highest of the year and third-best month ever for cannabis sales.