One wonders how many times an unpopular idea must be knocked down before it rises back from the dead. Especially when it means more money for the state. And especially in Illinois.
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.