Chicago Mayor Brandon Johnson’s first effort at building “affordable” housing is costing nearly $700,000 per unit. Similar units in the same area cost $126,583.
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.
Despite years of taxpayer subsidies, rail car manufacturer Nippon Sharyo has closed its Rochelle plant – pointing to a reality some politicians don’t want to face.
Even after a 32 percent income tax hike, the Illinois General Assembly passed a state budget in 2017 that will generate an estimated $1.5 billion deficit in fiscal year 2018. That deficit is projected to grow to $2.15 billion in fiscal year 2019, according to the Governor’s Office of Management and Budget, or GOMB. The...
The state’s combined incentives package will reportedly include $1.4 billion in EDGE tax credits, $450 million in improvements, $250 million in new education and workforce programs, and more.
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.