A new report analyzes the effects of “tax increment financing” on communities across the nation – and calls into question the merits of the widely used development tool.
MillerCoors opened its Chicago headquarters in 2010. Eight years and nearly $6 million in subsidies later, the beer giant has been hammered by a heavy round of layoffs.
Due to a payroll error, a part-time school library worker was overpaid $66,000 over five years, but will only be required to pay back half that amount under a settlement agreement between the school district, the employee and her union.
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.