The Biden administration promised nearly $36 billion to stabilize pension plans for Teamsters nationwide after forecasts predicted the system’s default by 2026. Union members would have seen their retirement benefits slashed by 60% if the system defaulted.
President Biden will call on Congress to suspend the federal gasoline and diesel tax for three months. Instead of suspending it, Gov J.B. Pritzker delayed the next motor fuel tax hike until after the election, hitting Illinois drivers with two hikes in 2023.
Travelers on planes, buses and other public transportation will have to stay masked until April 18. The federal mandate was to expire March 18.
In a letter to the president, Gov. J.B. Pritzker joined other Democratic governors to urge the removal of the State and Local Tax deduction cap. The move would primarily benefit the wealthy, including Pritzker.
Combine the corporate tax rate President Joe Biden wants to fund his infrastructure plan with Illinois’ tax, and the resulting rate would be 35.4% – fifth highest in the nation and second in the Midwest.
President Joe Biden on Friday is expected to sign the COVID-19 stimulus bill, with direct payments to most Illinoisans and a significant boost to local and state governments. Illinois can use this opportunity to fix state finances.
Former Illinois House Speaker Mike Madigan and Chicago Ald. Ed Burke are among the politicians curbed by Chicago’s current U.S. Attorney. A bipartisan group is trying to keep him in place to continue public corruption prosecutions.