While J.B. Pritzker has not released a detailed tax plan of his own, reasonable cost estimates suggest the tax hike required to pay for the candidate’s spending promises would require doubling Illinois’ state income tax rate and cost the state an estimated 132,000 jobs and $31.3 billion in forgone GDP.View Report
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.
South and West Side aldermen believe that an increase in the tobacco tax will lead to an increase in black-market sales and violence. They're right.
Chicago Mayor Rahm Emanuel released today his 2014 plan to close the city’s looming $338.7 million budget gap. His proposal is heavy on tax hikes and short on solutions. The mayor vowed not to close the budget gap with higher property taxes this year. Instead, the plan is to nickel and dime Chicagoans with tax...