Chicagoans know new revenues won’t be used to pay for better roads, classrooms or public safety – these tax hikes won’t even fix what’s ailing the city’s bottom line.
Chicago Mayor Rahm Emanuel calls for property-tax hikes, garbage-collection fees and ridesharing surcharges as a stop-gap measure to plug the city’s $750 million budget hole.
Reforms to LLC fees and the corporate franchise tax would be a great start for building a better business environment in Illinois, especially for small businesses and entrepreneurs.
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Chicago’s $1.15 billion projected budget gap is the latest in a decades-long string of structural deficits. Making Chicago’s high taxes worse is not the solution.