If Chicago wants to alleviate poverty and economic inequality, the city needs to reform its zoning laws to allow more building – not institute a new tax on development.
Taxpayers will shell out $36 million for Soldier Field in 2016, in addition to footing the bill for U.S. Cellular Field. And the city of Chicago is still pushing a plan for DePaul University that would cost an initial $55 million for a new basketball stadium.
Flawed property valuations and the process required to fix them are a cash cow for law firms, including those of House Speaker Mike Madigan, Chicago Alderman Ed Burke and Illinois Senate President John Cullerton.
Several instances of corruption and mismanagement of public property and trust came to light in March and included new developments in cases involving Chicago Public Schools’ former CEO Barbara Byrd-Bennett and former Gov. Rod Blagojevich.
The Education Freedom Tax Credit, also known as the Federal Scholarship Tax Credit, will give Illinois students access to donor money if the state opts into the program.