Local governments create TIF districts to encourage development in “blighted” areas; but TIFs often don’t deliver on promised economic benefits, while they do divert tax dollars from other uses and create opaque slush funds for the mayor to reward insider developers.
It’s no secret Chicago aldermen aren’t friendly to outsider businesses and innovative industries. Here’s a look at some of the most egregious examples from 2016.
Though Chicago already has the highest sales tax in the nation as well as massive property taxes, the Chicago City Council passed new hikes on parking fees in Midway and O’Hare airports.
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.