The Chicago Tribune reports that Mayor Rahm Emanuel's office might propose raising the city's cigarette and amusement taxes to help close a projected $369 million budget hole. The amusement tax would jump a percentage point for events ranging from major league baseball games to plays. The tax generated just $89.2 million last year, so an incremental increase will make a small difference in a $6.3 billion city budget.
An increase in the cigarette tax might raise relatively more money. But the tax would come after Springfield just raised the state tax on smokes by a full dollar a pack so as to generate revenue for Medicaid. The Tribune reports that Chicago has the second highest city cigarette tax in the nation behind only New York.