Illinois income tax hikes failed to fix state finances

By Adam Schuster

09/03/2019

In a single year, Illinoisans witnessed their state’s net worth drop by a staggering 35%, or $47.4 billion, despite shouldering the largest permanent income tax hike in state history.

TAGS: fair tax, income tax, progressive income tax, taxes

Lightfoot looks to Springfield for more taxing power on high-end services, home sales

By Vincent Caruso

08/23/2019

Chicago’s mayor wants permission from Springfield to impose a new tax on high-end professional services and raise taxes on pricier home sales, as the city faces down a $1 billion deficit.

TAGS: Lori Lightfoot, municipal pensions, pension guarantee, pensions, real estate, service tax, taxes

Doubled gas tax creates losers in Illinois, winners across state lines

By Brad Weisenstein

08/21/2019

Station owners said Illinois businesses were damaged July 1 when the gasoline tax doubled. Tax increases are keeping Illinois pumps quiet and cooling cigarette sales.

TAGS: gas tax, minimum wage, taxes

Chicago defends title of highest sales tax rate in the nation

08/14/2019

Chicago is tied with two other cities for the highest sales tax rates for a major U.S. city, adding another superlative for taxation of residents and visitors.

TAGS: Chicago, sales tax, taxes

Lake in the Hills approves over 9% hike to police pension levy

08/09/2019

The village will dedicate an estimated $1.5 million dollars to its police pension fund in 2019 – 9.17% more than it paid last year.

TAGS: Lake in the Hills, municipal pensions, pension guarantee, pensions, property taxes, taxes

Pritzker promises over $10B in new spending on $3.7B progressive tax hike

By Adam Schuster

08/07/2019

Gov. J.B. Pritzker’s “fair tax” plan falls far short of the revenue needed to pay for his spending promises – feeding fears of future tax hikes on middle-class families.

TAGS: budget, graduated income tax, income tax, JB Pritzker, progressive income tax, spending, taxes

Cook County home values down 31%, property taxes up 22% since 2007

By Bryce Hill

08/06/2019

Without true pension reform, property taxes are only bound to continue swamping Cook County homeowners.

TAGS: Chicago, Cook County, home values, municipal pensions, pension guarantee, pensions, property taxes, taxes

Will County weighs new 4- to 8-cent countywide gas tax atop doubled Illinois tax

By Vincent Caruso

08/03/2019

County leaders may exercise new taxing authority from Gov. J.B. Pritzker’s capital plan. Illinois already doubled its portion of the gas tax, pushing the total burden to No. 3 in nation.

TAGS: gas tax, JB Pritzker, taxes, Will County

Illinois’ film tax credit program is theatrically bad

By Austin Berg

08/02/2019

Illinois’ film tax credit program is a slap in the face to the state’s small business community outside the spotlight, does little to grow good jobs and is rife with corruption.

TAGS: Cinespace, film subsidies, JB Pritzker, small business, tax credits, taxes

Illinois pension buyout program delivers just 3% of projected savings

By Vincent Caruso

07/29/2019

A plan that allowed some pension enrollees to cash in early on their earned retirement benefits in exchange for curbing future benefits has so far generated only 3% of its expected savings.

TAGS: municipal pensions, pension guarantee, pensions, property taxes, SERS: State Employee Retirement System, SURS: State Universities Retirement System, taxes, TRS: Teachers’ Retirement System

taxes

Illinois income tax hikes failed to fix state finances

Lightfoot looks to Springfield for more taxing power on high-end services, home sales

Doubled gas tax creates losers in Illinois, winners across state lines

Chicago defends title of highest sales tax rate in the nation

Lake in the Hills approves over 9% hike to police pension levy

Pritzker promises over $10B in new spending on $3.7B progressive tax hike

Cook County home values down 31%, property taxes up 22% since 2007

Will County weighs new 4- to 8-cent countywide gas tax atop doubled Illinois tax

Illinois’ film tax credit program is theatrically bad

Illinois pension buyout program delivers just 3% of projected savings

4 ways to break out of Illinois’ pension trap

Report Archive

Diana Graham

Process for unionizing non-state workers raises red flags

CBS Chicago: Illinois’ highest-paid superintendent receives $400K per year to oversee 1,200 students