Illinois households that moved out of state earned $19,600 more, on average, than those who moved in during the 2014-2015 tax year.View Report
In his annual budget address, Chicago Mayor Rahm Emanuel painted a rosy picture about city finances while selling more tax and fee increases.
Illinois hasn’t had a balanced budget since 2001. A lot of that has to do with the nation’s worst pension crisis and warped spending priorities. But the state’s No. 1 budget problem is simple: people. If Illinois just broke even on people coming and going to and from other states, there might not be much...
Mayor Rahm Emanuel looks to increase costs for Chicagoans to fill budget shortfalls and failing pensions.
One change in federal tax code – and Illinois lawmakers’ response to it – could decide the economic trajectory of the state.
Cities and villages across the state are raising taxes or implementing new ones for a variety of functions, from attracting a fast-food restaurant to catching up on rising pension costs.
The 2018 budget is staring at a $1.7 billion hole despite containing the largest permanent tax hike in state history. Every budget through 2023 will likely be unbalanced as well.
If aggrieved taxpayers don’t also demand fixes to underlying spending problems, calls for additional tax hikes will return. And they’ll be stronger than ever.
With the repeal of the Cook County sweetened beverage tax, taxpayers remind elected officials who they represent.
The Cook County Board Finance Committee voted Oct. 10 in favor of an ordinance to repeal the unpopular sweetened beverage tax. The repeal measure now awaits a vote before the full board.
Illinois ranks eighth in the nation for state and local excise and selective sales tax collections.