Statewide commercial property tax extensions are on pace to total $11.3 billion by 2026. Amendment 1’s expansion of government union power would likely accelerate that $1.8 billion increase.
Illinois will contribute $450 million to the Unemployment Insurance Trust Fund. With $1.4 billion in debt remaining, Illinois businesses are on the hook if lawmakers don’t meet the Nov. 10 deadline.
Despite proponents’ claims, the rights outlined in Amendment 1 cannot apply to non-government employees. U.S. Supreme Court precedent already makes that clear. So did the proposal’s Illinois Senate sponsor.
Chicago Mayor Lori Lightfoot earmarked $442 million to help pay down Chicago’s $46.9 billion pension debt. The Civic Federation said stop-gap measures will only delay future property tax hikes unless there’s statewide pension reform.
Tyson Foods is relocating 500 employees from Chicago and Downers Grove offices to the corporate headquarters in Arkansas. The meat processor is the sixth company to leave Illinois this year.
This week’s Policy Shop is by Director of Fiscal and Economic Research Bryce Hill. We’re about one month out from midterm elections across the country. Foremost in voters’ minds? The economy. Will Illinois’ gubernatorial candidates dodge this topic, or give it the focus it deserves? We’ll find out as Gov. J.B. Pritzker and Republican challenger Darren...
A new financial report predicts residents in the nation’s largest cities will pay more for pensions next year as inflation and recessionary fears “erase” 2021 gains. Chicago topped the big cities for pension debt.
A constitutionally required pamphlet intended to inform voters about Amendment 1 includes misleading and inaccurate claims. It fails to alert voters what they are really voting on, which is a property tax increase.
The Arlington Heights Board voted unanimously to reject a citizen proposal to stop them from subsidizing the $5 billion Bears stadium development with taxpayer funds. Petition sponsors said they will pursue a ballot question.
DuPage County consolidated seven taxing bodies to streamline government. The move will save $100 million for taxpayers over two decades.
Both forest preserve leaders and government unions are asking Cook County voters for more property taxes on Nov. 8.
Chicago Mayor Lori Lightfoot unveiled her 2023 budget proposal and deleted a $42.7 million property tax hike originally tied to inflation.