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WTTW Chicago Tonight: Sources Say Amazon Incentives in the Ballpark of $2 Billion
Chicago, Cook County and Illinois government are willing to shell out an incentive package worth around $2 billion in order to lure Amazon, according to two sources close to the bid process. That breaks down to around $1.6 billion in tax breaks and $400 million in infrastructure and capital spending around the project, the sources said. It is not known how the money is divided up between city, state and county, and over what period of time the incentives would be paid.
The main tax incentive the state has to offer is the EDGE tax credit, which was re-authorized into law this year by Gov. Bruce Rauner after it had expired. It works as a credit against payroll taxes for companies that create new jobs in the state. The credit has been controversial in the past, but several analysts say it would make sense in this instance, as Amazon is pledging to create 50,000 new jobs with an average salary of $100,000 and invest $5 billion in new office space.
News-Gazette: Balanced budget deep in the red
Gov. Bruce Rauner has been cast by legislators in the villain’s role on the budget issue.
A couple months ago — after the big budget battle between the state’s Republican governor and the Democratic Legislature — House Speaker Michael Madigan claimed victory.
He forced a state income tax increase down Gov. Bruce Rauner’s throat by leading an override of Rauner’s veto of the budget and tax plan. Rauner foes said it was tough but necessary medicine to put Illinois on firmer financial ground and balance the state’s 2017-18 budget.
Chicago Tribune: Cook County soda tax 'backlash' will make other tax hikes hard, ratings agency warns
The Cook County soda tax backlash and repeal could make it harder for the county, city and Chicago Public Schools to raise taxes or enact new ones, according to one Wall Street debt rating agency.
“The political backlash against the unpopular soda tax highlights the practical limitations on raising taxes, even if a government is legally permitted to do so,” Moody’s Investors Service analysts wrote in a report released Thursday. “This practical limitation is particularly critical for Chicago-area local governments, given the significant revenue needs of Cook County, the city of Chicago, CPS and other entities.”
Chicago Sun-Times: Will citywide ‘cart inventory’ be prelude to volume-based garbage fee?
Chicago will take an inventory of “excessive” garbage carts next year — and one influential alderman hopes it will be a prelude to replacing the city’s $9.50-a-month garbage collection fee with a volume-based rate.
That approach also would double as an incentive to recycle, said Southwest Side Ald. Mike Zalewski (23rd), a former deputy commissioner of Streets and Sanitation.
Chicago Sun-Times: City to expand crackdown on illegal parking, boost debt collection
A technology-driven crackdown on illegal weekend parking in downtown Chicago has churned out 37,400 tickets through Sept. 30 and will be expanded citywide.
Mayor Rahm Emanuel is counting on raising $10.8 million in 2018 through “data-driven enforcement and improved debt collection.”
Northwest Herald: At $515 an hour, legal bills mount in Algonquin Township labor dispute
Taxpayers in Algonquin Township could be on the hook for mounting legal costs in a labor dispute where one attorney is charging $515 an hour – an unheard of amount, one expert said.
Legal fees from a law firm hired by the Algonquin Township Highway Department in a dispute with the International Union of Operating Engineers Local 150 have topped $130,000 since May.
Daily Herald: District 15 striker quits rather than obey judge's order
Carrie Corona says she chose to take a stand and quit her job at Palatine Township Elementary District 15 rather than follow a judge’s order prohibiting nurses and special education classroom aides from being part of a support employees strike.
So, instead of working with special ed students at John G. Conyers Learning Academy in Rolling Meadows, Corona was on the picket line Thursday at Winston Campus elementary and junior high schools in Palatine. The longtime educator started at District 15 in August as a program assistant in special-needs and high-risk classrooms.