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Financial Transaction Tax

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PI Original
by Ellyn Fortino
3:36pm
Wed Sep 14, 2016

Chicago City Council Roundup: Water & Sewer Tax Hike Passes, O'Hare Bonds Get Approved

From a new water and sewer tax to O'Hare bonds and TIFs, Progress Illinois rounds up highlights from Wednesday's Chicago City Council meeting. 

PI Original
by Ellyn Fortino
3:28pm
Mon Aug 22, 2016

Fair Economy Activists Arrested At Protest Against Corporate 'Tax Dodgers' (VIDEO) (UPDATED)

Members of Fair Economy Illinois took aim at corporate "tax dodgers" during a Monday afternoon protest outside Exelon's Chicago offices. Activists danced the Electric Slide in the street, and 10 protesters were ultimately arrested after they sat down in a downtown intersection and refused to move.

Quick Hit
by Ellyn Fortino
6:29pm
Thu Aug 4, 2016

Experts: Financial Transaction Tax A 'Win-Win For U.S. Economy'

A financial transaction tax would help Wall Street work for Main Street, experts at the left-leaning Economic Policy Institute (EPI) argue in a new report.

In light of the Democratic Party endorsing a financial transaction tax in its platform, EPI's report details how much revenue such a policy could raise, putting the figure anywhere between $110 billion to $403 billion annually.

The tax would impose a small levy on trades of stocks, bonds, derivatives and other financial transactions.

Quick Hit
by Ellyn Fortino
2:31pm
Thu Mar 24, 2016

Ryan Renounces Previous 'Makers And Takers' Rhetoric As Progressives Rebuke GOP 'Austerity' Budget Plan

House Speaker Paul Ryan (R-WI,1) expressed regret this week for his past comments against poor Americans, saying in a major speech Wednesday that he was wrong for calling people "makers and takers."

"There was a time that I would talk about a difference between 'makers' and 'takers' in our country, referring to people who accepted government benefits. But as I spent more time listening, really learning the root causes of poverty, I realized something. I realized that I was wrong," Ryan said during his speech about the state of American politics. "'Takers' wasn't how to refer to a single mom stuck in a poverty trap, trying to take care of her family. Most people don't want to be dependent. And to label a whole group of Americans that way was wrong. I shouldn't castigate a large group of Americans just to make a point."

In a question and answer session after his speech, delivered before a group of House interns, Ryan added, "I was callous and I oversimplified and I castigated people with a broad brush. That's wrong. And there's a lot of that happening in America today. I myself have made that mistake."

Despite Ryan's noteworthy change in rhetoric, and his push this year to make combating poverty a top GOP priority, critics say his policies speak for themselves.

PI Original
by Ellyn Fortino
4:22pm
Mon Nov 2, 2015

Dozens Arrested During Protest Over 'LaSalle Street Tax' At Chicago Board Of Trade (VIDEO)

Forty-one protesters with Fair Economy Illinois were arrested Monday after they blocked the entrances of the Chicago Board of Trade building as part of their campaign for a "LaSalle Street tax," or a tax on financial transactions to generate state revenue. Progress Illinois provides highlights from the protest. 

Quick Hit
by Ellyn Fortino
2:03pm
Fri Oct 2, 2015

Chicagoans Speak Out On 2016 Budget With Progressive Aldermen At Town Hall Meeting

Chicagoans vented their frustrations over items in Mayor Rahm Emanuel's 2016 budget proposal, including a record $588 million property tax hike, during a Thursday night town hall meeting hosted by the city council's Progressive Reform Caucus.

In addition to the proposed property tax increase, the three progressive caucus members at the meeting, Alds. Scott Waguespack (32nd), Nicholas Sposato (38th) and John Arena (45th), got an earful from residents about Emanuel's proposals to privatize the city's 3-1-1 non-emergency operations and increase fees on taxi cabs and ride-hailing services, like Uber and Lyft.

Emanuel wants to outsource 3-1-1 operations to save the cash-strapped city an estimated $1 million annually.

Debra Powell, a 3-1-1 operator of 10 years, said the privatization plan could cost 58 call center jobs and negatively impact the quality of service provided to Chicagoans.

"You don't know who you're going to be talking to when you call 3-1-1 and it's been outsourced," Powell said at the budget town hall meeting, held at the Copernicus Center on the Northwest Side. "I would rather speak with someone who lives in the city, born and raised, knows the neighborhoods. We have ... 58 operators there who live all across the city, ... so we pretty much can relate to all the residents calling in."

PI Original
by Ellyn Fortino
10:41am
Tue Aug 11, 2015

Protesters Call For A Fair State Budget Outside Home Of Rauner Campaign Donor (VIDEO)

Illinois "Moral Monday" activists protested for a "fair and just" state budget in Chicago's Uptown neighborhood and outside the Lincoln Park home of a top campaign donor for Gov. Bruce Rauner. Progress Illinois was there for the Monday evening demonstration.

PI Original
by Ellyn Fortino
3:55pm
Mon Jul 13, 2015

'Moral Monday' Activists Engage In Civil Disobedience To Protest State Budget Cuts (VIDEO)

Six "Moral Monday" activists with Fair Economy Illinois participated in civil disobedience during a Monday morning protest in Chicago against state budget cuts. The "fair-share" revenue advocates brought their protest to the downtown office building of Morningstar, an investment research firm whose CEO is a wealthy Rauner donor.

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