Center Square: Advocates look to raise farm inheritance tax threshold
High inheritance taxes are forcing Illinois farm families to sell their farms in order to pay the taxes. Some are looking to change that.
Sun-Times: Gov. J.B. Pritzker's 'more austere' $52.7 billion budget proposal revamps pension system
Gov. J.B. Pritzker on Wednesday unveiled a $52.7 billion budget that includes the blueprint for a pension overhaul, funding to care for newly arriving migrants and the creation of a child tax credit.
WTTW: Pritzker lays out plan to tackle projected budget shortfall in State of the State address
An expected Illinois budget shortfall will be evened out through a combination of improved fiscal projections, a relatively tighter hold on spending increases, new programs with about 2% more spending than this year and revenue hikes that include a higher tax on sports wagers, per a plan laid out Wednesday by Gov. J.B. Pritzker.
Chicago Tribune: Mayor Brandon Johnson pushes plan to borrow $1.25 billion for housing, development and climate goals
To stave off a “significant shrinkage” in the city’s available pool of money, Mayor Brandon Johnson’s administration Wednesday rolled out a new $1.25 billion borrowing plan to help fund a slate of progressive housing and economic development initiatives, funded in part by winding down reliance on special taxing districts, or TIFs.
Center Square: Jails across Illinois experience vacancies after elimination of cash bail
Jails across Illinois have been experiencing a decline in population since the passage of the Pretrial Fairness Act, which eliminated cash bail statewide as of September 2023.
Daily Herald: Arlington Heights mayor denies taking sides in Bears vs. schools tax battle
As the Cook County Board of Review closes in on a final decision that will likely hike the amount of property taxes the Chicago Bears pay at Arlington Park, Arlington Heights Mayor Tom Hayes said he’s not pressuring three area school districts to bend to the NFL franchise, or otherwise taking sides in their protracted battle.
Central Illinois Proud: Postal Service seeking feedback on possibly moving mail processing out of Peoria
As the United States Postal Service is trying to get feedback on how they can change and evolve in the coming years, one of those places they are looking at is the Processing & Distribution Center in Downtown Peoria.