Two bills in the Illinois General Assembly would expand eligibility for the earned income tax credit. As part of our Firsthand initiative exploring poverty in Chicago, we take a look at the credit, and what it could mean for low-income households.
Low-income residents who are in debt to the state or city won’t have their state tax return used to settle those bills under a plan announced Monday by Mayor Lori Lightfoot and Comptroller Susana Mendoza, who said she was spurred to act because “families on the edge” need their tax returns to cover overdue bills.
With just a month left until the annual tax filing deadline, Attorney General Kwame Raoul is urging Illinoisians to take precautions before hiring a tax preparation business amid consumer complaints.
The Manhattan district attorney’s office enforced a subpoena on Donald Trump’s accounting firm within hours of the Supreme Court’s ruling on Monday and now has the documents in hand, a spokesperson for the office said Thursday.
Illinois voters in November rejected a constitutional amendment that would have allowed the state to overhaul how it taxes income. Now one of Springfield’s top leaders is suggesting another swing at the effort.
The pandemic-era budget proposed Wednesday by Gov. J.B. Pritzker relies heavily on businesses to bring an additional $932 million into state coffers through what the Democrat describes as closing corporate tax loopholes. We get reaction from state lawmakers.
The coronavirus pandemic has wreaked havoc on people’s lives, and also on government budgets. On Wednesday, Gov. J.B. Pritzker will propose his ideas for getting Illinois through it. Here’s a preview of that address.
Gov. J.B. Pritzker told lawmakers Tuesday that he will not propose hiking the state’s income tax on individuals to close the state’s projected $3 billion budget deficit in 2022.
Mag Mile landlords dodge a new tax aimed at revitalizing the shopping strip following this summer’s unrest. Crain’s Chicago Business reporter Danny Ecker has details on this story and more.
Alds. Brendan Reilly (42nd Ward) and Brian Hopkins (2nd Ward) said the effort to create the new taxing district to fund security, attract businesses and spruce up the streets and sidewalks was pushed through too quickly and should not move forward.
With the failure last month of Gov. J.B. Pritzker’s graduated income tax amendment, Illinois House Speaker Michael Madigan floats an income tax hike while making his pitch to the Black Caucus.
The budget passed despite opposition from two main groups of aldermen: those who represent wards where a property tax hike of $93.9 million will hit hardest and aldermen who favored deep cuts to the police budget.
Throughout the pandemic, nature has proved its worth as an outlet and resource, benefiting people’s physical, emotional and mental well-being. Now the question is, will people return the favor?
Ahead of Tuesday’s vote, Mayor Lori Lightfoot is urging aldermen to support the plan she crafted to close a $1.2 billion budget deficit in 2021. Four aldermen sound off the plan.