Illinois Gov. J.B. Pritzker’s budget proposal slashes general funds for economic development while relying on federal dollars to mask the cuts. This move raises doubts about the governor’s fiscal priorities.
More than half of Illinois voters said high taxes were the No. 1 concern for the state, according to an Illinois Policy Institute poll. Of those polled, nearly half said they would also move out of the state if given the chance.
The Chicago Teachers Union and its partners are pushing nine new or higher taxes that could end up costing Illinoisans $7.3 billion more starting July 1. Their scheme to fill a proposed state budget deficit is likely to backfire and shrink the tax base.
Deep-blue Illinois had President Biden to bail out the state’s and Chicago’s financial failings. Now city and state leaders have President Trump to blame for their financial failings. Eventually, taxpayers will be held responsible.
Illinois motorists should expect another motor fuel tax increase this summer when the gas tax jumps again. Illinoisans already pay the second-highest gas taxes in the country, but state leaders are worried about not having enough to spend.
Illinois’ inefficient spending on its transportation needs led the state to spend more as its roads got worse. But there is a solution if the state can minimize politics in the decision process and prioritize public need.
Kane County voters sent a strong message by voting down a sales tax increase on April 1. They joined voters in several townships who asked for pension reform to control taxes and a town that rejected a grocery tax.
Just over 5% of the average state income tax return supports economic development and public safety, while almost 28% goes to government worker pensions and benefits. Here’s a breakdown of how Illinois will spend your state income taxes.
Illinois lawmakers are looking at a bill that would cut sales taxes during back-to-school shopping. Illinois hasn’t had a sales tax holiday in years. The bill would lower the state sales tax from 6.25% to 1.25% on clothes and school supplies for six days in August 2025.
With 90% voting “no,” Bensenville voters shot down a grocery tax proposal. Illinois’ statewide grocery tax is ending at the end of 2025, but some local leaders want it to stay.
Fears have grown that more efficient cars mean less money for Illinois to fund roads. But the state already collects higher revenues than ever while burdening drivers with high taxes and fees.
Illinois will impose the nation’s seventh-highest state and local tax burden on residents in 2025. Taxpayers on average will pay over 10% of their annual income to support government, according to WalletHub.
Illinois lawmakers can’t budget responsibly if they don’t know how much they have. Governors have a history of fudging the numbers to get what they want.
Typical property tax bill increased 78% on a Cook County residence since 2007. Median property values only rose 7.3%. That leaves residents paying $2,558 more a year in property taxes while their biggest investment fails to keep up with inflation.