State sales tax collections fell 3 percent during Illinois' first
"Back-To-School Sales Tax Holiday," a 10-day period this past August in
which shoppers received a 5 percent sales tax break on shoes,
clothing, and other school supplies under $100. The share of Illinois'
sales tax that goes to municipalities increased 3.7 percent.
If the General Assembly is going to revamp Illinois' tax structure, House Speaker
Michael Madigan (D-Chicago) is asking that Republicans in his chamber
agree to help. The most likely candidates to cross the aisle are certainly the five lame-duck representatives who either lost their
primary or general-election campaigns or who are retiring.
In recent weeks, we've been tracking how outgoing Chicago Mayor Richard Daley's now-ratified decision to declare $180 million of the city's tax increment financing dollars as surplus is affecting other local
Back in the summer, U.S. Rep. Jan Schakowsky (IL-9) told Think Progress that President Obama's 18-member deficit
commission, of which she is a member, was destined to fail because
conservatives refuse to consider any tax hikes. That seems likely.
On the eve of the state legislature's fall veto session, which we
previewed last week, lawmakers and stakeholders in Springfield are
racing to build support for some important -- and often controversial --
pieces of legislation.