Gov. J.B. Pritzker’s proposed reduction of Illinois’ standard income tax exemption would increase taxes for over 11 million individuals. Some state leaders warn the effective tax hike would hit working families hardest.
Chicago’s March 19 primary election includes Mayor Brandon Johnson’s real estate transfer tax hike to raise $100 million, dubbed “Bring Chicago Home.” Will higher taxes without a plan help homeless Chicagoans or hurt their job prospects?
Votes on Chicago’s March 19 referendum will count, according to an Illinois Appellate Court ruling. Now voters must weigh the merits of the real estate transfer tax hike.
Chicago Mayor Brandon Johnson and advocates for a hiked real estate transfer tax argue the rich need to pay their fair share, but many local businesses fall in their definition of “rich.”
Gov. J.B. Pritzker’s record-setting $52.7 billion 2025 spending plan needs massive tax increases. Tax changes will hurt individuals, businesses and local governments.
Tax hikes on businesses and individuals didn’t make the cut in Illinois Gov. J.B. Pritzker’s budget address, but they’re a big part of his budget proposal.
A Cook County judge ruled Feb. 23 Chicago Mayor Brandon Johnson’s “mansion tax” was unconstitutional and should be removed from the primary election ballot.
Illinois is on an upward path, Illinois Gov. J.B. Pritzker said during his State of the State speech. True, by some measures. Not so much by too many measures that matter.
Gov. J.B. Pritzker is supporting an end to Illinois’ 1% grocery tax. Illinois is one of only 13 states with a grocery tax, and the only one of the nation’s 10 largest states.
Pritzker proposes to permanently repeal the 1% state grocery tax. That’s good. The ballooning size of the state budget, not so good.
The pandemic had an upside for Illinois state finances – infusing federal dollars as state revenues exceeded projections. Now federal aid is gone. Illinoisans’ ongoing struggles warrant caution, reform in the state’s fiscal year 2025 budget.
Illinois will spend over $50 billion this year to operate state government, which is $10 billion more than when J.B. Pritzker first started spending your taxes. Here are some reasons to pay attention to the upcoming state budget.
Combined state and average local sales tax rate tallies 8.85% in Illinois for 2024. That’s the highest in the Midwest and seventh highest in the nation.
Before asking voters to approve a “mansion tax,” why not tap unspent federal pandemic aid dollars to reduce homelessness?