As a result of the U.S. Supreme Court’s decision in South Dakota v. Wayfair Inc., most online purchases in Illinois will now be subject to automatic collection of the state’s 6.25 percent use tax.
House Bill 4237 seeks to get around Congress’ limitation of a federal deduction that benefits high-tax states, but residents would be better served by efforts to directly reduce state and local taxes in Illinois.
Despite political differences between Chicago and much of the rest of the Land of Lincoln, making Chicago its own state is not a serious idea or good use of time.
Senate Bill 1719 would impose a 20 percent surcharge on fees earned by investment managers, but the spring legislative session ended with the Illinois House failing to call the measure for a vote.
Former U.S. House of Representatives Speaker Dennis Hastert had been receiving nearly $30,000 annually from the underfunded General Assembly Retirement System.
After hundreds of waiting list deaths and an unsustainable enrollment explosion, Illinois policymakers must act swiftly to contain this growing nightmare. Thankfully, they have options.
A repeal of the federal estate tax would make it imperative that Illinois get rid of its own state death tax to avoid losing even more residents and income to other states.
Illinois’ tax code stands in the way of the state’s economic competitiveness. The combination of high tax burdens and a poor tax structure contributes to the loss of jobs and investment to other states. From a place of former economic dominance, Illinois now ranks 45th in gross state product (GSP) growth over the past decade...