Illinois’ financial outlook was changed from ‘stable’ to ‘negative’ by two major ratings firms, raising the risk the state’s credit rating will formally fall to non-investment grade status.
Delaying property tax payments would give much-needed relief for those struggling without a paycheck during the COVID-19 pandemic.
State lawmakers in 2019 passed a progressive income tax amendment at the behest of Gov. J.B. Pritzker. Now that coronavirus has ravaged the state’s small business community, they should withdraw the amendment.
“This is supposed to be the American Dream for me and my family … I’m holding on to everything I can, but I’m losing because of this house. It’s a nightmare."
“There’s a silence among politicians. An apathy, when it comes to property taxes. And a history of mismanagement."
Struggling businesses, individuals and families need relief while the economy is shut down. Despite Illinois’ financial woes, leaders can help the recovery by lifting government-imposed financial burdens.
Illinois’ grocery stores have told shoppers to leave their reusable bags at home to stop COVID-19’s spread. Chicago’s 7-cent bag tax will continue unless the law is changed.
The change puts Illinois in line with the new federal deadline announced in response to the spread of the coronavirus.
One Chicago alderman is calling for the city’s 53 elected officials to forfeit their six-figure salaries for 15 days.
Due to its poor financial health and lagging economy, Illinois carries unique economic and fiscal risks from a prolonged market downturn or recession. The state must act now to mitigate harm from COVID-19.
With economic challenges driven by the coronavirus ahead, Illinois finds itself missing an important financial tool.
Lawmakers routinely spend faster than taxpayers’ incomes grow. A new bill would put Illinois with the majority of states that limit taxes or spending.
Visions of the community’s future no longer bring comfort. Instead, they inspire crippling fear.
Illinois law requires the governor to propose a budget balanced with existing revenues. To do so, Gov. J.B. Pritzker proposes cutting aid owed local governments, raiding the road fund, letting health insurance costs pile up and withholding taxpayers’ refunds.