Not only would a progressive income tax hike end up taking more money directly from all taxpayers’ pockets, but it would also have negative economic effects on jobs growth, after-tax income adjusted for cost of living, and overall economic output.View Report
Lawmakers in the Illinois House of Representatives failed to override former Gov. Bruce Rauner’s veto of the “Tobacco 21” bill in November. Gov. Pritzker’s administration has signaled support.
Excise taxes have failed to rehabilitate Illinois’ failing fiscal health. But lawmakers have yet to kick the habit.
Chicago’s legal smoking age of 21 would have been expanded statewide under the proposal.
Pending the House’s vote and the governor’s signature, the bill would expand Chicago’s smoking age restriction statewide.
The bill would apply Chicago’s restriction on the smoking age to the entire state.
The Land of Lincoln is also the land of “sin” taxes, “saint” subsidies and other nanny-like policies, according to a new study.
Despite diminishing returns, the Prairie State has yet to kick its excise tax habit.
Illinois ranks eighth in the nation for state and local excise and selective sales tax collections.
Illinois’ high cigarette tax is a flighty source of revenue with unintended consequences.
AFSCME officials proposed seven tax increases for Cook County as a way to save union jobs, including an increase in the county sales tax, a new head tax and doubling the amusement tax to 6 percent, despite the county’s local tax burden already being among the highest in the nation.