Gov. JB Pritzker and Democrats who control the state legislature have mostly shied away from renewing their graduated income tax push — all while managing to balance the books under the existing tax structure, largely thanks to a strong economy and federal aid in the years after the pandemic.

Chicagoans will get a small break on their grocery bills but be forced to pony up to cover a host of tax and fee hikes that a deeply divided Chicago City Council approved to fill a massive budget shortfall over the objections of Mayor Brandon Johnson.

Nearly 300 new Illinois laws will take effect on Jan. 1, 2026.

Over the objections of the mayor, the Chicago City Council agreed to meet Monday, Tuesday, Wednesday, Thursday and Dec. 23 in an attempt to hammer out a deal over the $16.6 billion spending plan.

Even as City Council members returned to City Hall on Tuesday after the Thanksgiving holiday, there is no clear path to a deal with just 28 days left before the deadline to avoid an unprecedented shutdown of city government.

The Cook County Board of Review, the office tasked with settling appeals, announced that everyone who lives in a Cook County township that’s already closed its 2025 property tax appeal window will have another shot to file.

Some homeowners are searching for answers as they grapple with hefty property tax bills. A new report from the Cook County Treasurer’s Office said declining values for downtown commercial properties are shifting the tax burden onto homeowners.

The most recent reassessment of the value of Chicago properties resulted in a “record-setting” 16.7% increase in the median homeowner’s bill, according to a new analysis from Cook County Treasurer Maria Pappas’ research team.

Second installment property tax bills are typically released in early July and due in early August, but have been delayed for nearly four months by an overhaul of the county’s property tax system plagued with problems.

Mayor Brandon Johnson is calling for more taxes on big companies in his 2026 budget proposal. Under the mayor’s plan, businesses in Chicago with more than 100 employees would have to pay $21 for each employee every month.

Budget negotiations between members of the Chicago City Council have accelerated following Mayor Brandon Johnson’s initial proposal, which he unveiled last week.

A $15 million homeowner relief fund program aims to assist Cook County homeowners who have experienced a substantial increase in property taxes in recent years, officials announced during a Monday news conference.

President Donald Trump’s sweeping tax and spending bill is now law, after days of heated debate and close votes in Congress. Democrats say the cuts will impact low-income Americans.

At nearly 900 pages, the legislation is a sprawling collection of tax breaks, spending cuts and other Republican priorities, including new money for national defense and deportations.

The Senate parliamentarian has advised that a Medicaid provider tax overhaul central to President Donald Trump’s tax cut and spending bill does not adhere to the chamber’s procedural rules, delivering a crucial blow as Republicans rush to finish the package this week.

The $55.1 billion spending plan set to take effect July 1 is the largest in state history and is supported by $55.3 billion in anticipated revenue, including more than $700 million in new taxes and more than $500 million in one-time revenues.