A proposed 1 percent sales tax for school facilities improvements would bring the city of Springfield’s combined sales tax rate to 9.75 percent – among the highest in the nation.
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.
Following $3.7 million in EDGE tax credits Illinois awarded the company last year, Flex-N-Gate is set to receive a $1.2 million tax break to boost its Danville workforce.
Taxpayers across Illinois oppose a progressive tax but many state lawmakers still refuse to stand up against House Speaker Mike Madigan’s progressive tax push.
According to a new report by Moody’s Investors Service, Illinois’ unfunded pension liabilities equaled 601 percent of state revenues in 2017, a U.S. record.
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.