That total comes from $2.4 million lost due to the absence of Powerball ticket sales and $1.4 million lost due to the absence of Mega Millions ticket sales.
Illinois’ 32 percent income tax hike will steal nearly an entire year’s worth of income growth from Illinoisans.
More than 50 Illinois counties, municipalities and business districts started imposing sales tax increases ranging from 0.25-1.5 percent as of July 1.
Chicago Public Schools failed to pay in full the $733 million pension payment that was due June 30, instead making a partial payment of $464 million, even after taking out a $387 million loan from JPMorgan.
The Illinois House of Representatives has completed an override of Gov. Bruce Rauner’s veto of a budget plan, including multibillion-dollar tax increases.
More than 240 years ago, a group of individuals stood up against a far-off king who taxed them without recourse. Americans honor their efforts each year on Independence Day. The Illinois General Assembly had a funny way of celebrating this year. On July 2, the Illinois House of Representatives passed a budget that includes the...
Medicaid has ballooned to cover more than a quarter of Illinois’ population, with spending at $5.4 billion, up 141 percent 2015 compared with 2000. Now that a federal judge has ruled Illinois must speed up its Medicaid payments, the state’s Medicaid payment will increase $83 million each month, for a total monthly payment of $376 million.
Though the Illinois House of Representatives appears close to overriding Gov. Bruce Rauner’s veto of a tax hike budget plan, and thereby ending Illinois’ more than two years without a full-year budget, Moody’s Investors Service has said it might still downgrade the state’s credit, largely due to Illinois’ unsustainable debt.