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Taxes
PI Original
by Angela Caputo
4:34pm
Mon Nov 16, 2009
2 comments

Straight Talk On The State Budget From Pagano, Placko, And Kacich

State Legislature

After watching again and again as Illinois lawmakers relied on financial gimmicks to pay for core services, budget experts knew it was only a matter of time before Springfield would be forced to confront the state's ballooning structural deficit.Last week, the Pew Center on the ...

PI Original
by Angela Caputo
2:54pm
Tue Nov 10, 2009
4 comments

Over 90 Percent Of Daley's Property Taxes Go Towards TIF

Taxes

Each fall, Cook County Clerk David Orr releases an annual tally of how much public money has been absorbed into Chicago's massive tax increment financing (TIF) system. Like clockwork, each new report reveals that hundreds of millions are whisked away from schools, parks, ...

PI Original
by Angela Caputo
5:58pm
Fri Nov 6, 2009

Budget Crisis Creeps Into Illinois Schools

Education

Two weeks ago, state lawmakers wrapped up the fall veto session and
headed home with hopes that Illinois' financial crisis wouldn't follow
them back to their own districts. So far, the bad budget news has trickled in slowly enough that many have been able to distance ...

PI Original
by Angela Caputo
11:11am
Thu Nov 5, 2009

Number Of The Day: $12.8 Billion

State budget

If there's one thing observers of Illinois politics can agree on, it's that next year's state budget deficit is going to be extraordinary. Not only are billions in federal stimulus money scheduled to dry up, but state officials will soon have to pay out $3.5 billion in ...

PI Original
by Angela Caputo
3:07pm
Fri Oct 30, 2009

Another Example Of Illinois' Regressive Tax Policy

Richard Daley

If you want to know why property tax rates are climbing, just look to the state's regressive income tax system.

PI Original
by Angela Caputo
12:37pm
Thu Oct 29, 2009
2 comments

Ald. Allen: We Should Rename TIF "The 'Over-Tax Fund’"

Chicago City Council

Is Northwest Side Ald. Tom Allen (38th Ward) emerging as the Chicago
City Council's leading tax increment financing (TIF) watchdog? Since
Mayor Daley began to detail just how bad the city's finances have
become, Allen has been one of the most vocal critics of the mayor's ...

PI Original
by Angela Caputo
9:40am
Wed Oct 28, 2009

The Connection Between Wind Power And School Funding

Taxes

Back in July, we took note
of an interesting development in Central Illinois' McLean County where
a local school district used a new wind farm to generate
desperately-needed education money. Encouragingly, other districts are
following suit. Construction on a similar farm ...

PI Original
by Angela Caputo
11:22am
Mon Oct 26, 2009
1 comment

FOX's Placko Highlights Chicago's "Huge TIF Problem"

Taxes

Last week, we documented how the Reader's stellar investigation into Mayor Daley's $1 billion "shadow budget" had reinvigorated the public debate around tax increment financing (TIF) -- just in time for the city's budget talks with aldermen.  Over the weekend, FOX ...

PI Original
by Adam Doster
10:03am
Mon Oct 26, 2009

SJ-R: Fiscal Irresponsibility "Has To End"

Taxes

Amidst a recession, it's so easy for candidates (and editorial boards) to
demagogue against proposed income tax hikes.  Therefore, it's rare to see public arguments in favor of tax reform made with the
subtlety and perspective that's required both to understand and address ...