Taxes
Chicagoans are casting their votes for political candidates and making their voices heard on political ideas. A group of journalists walks us through the referenda on the ballot.
“There are points in time when scoop and toss is appropriate” and that is now the case since Chicago is facing a $1.2 billion budget gap, Chief Financial Officer Jennie Huang Bennett said.
The mayor’s budget plan, the next coronavirus wave and the final presidential debate. Our politics team takes on those stories and more in this week’s roundtable.
Mayor Lori Lightfoot’s plan to close a projected $1.2 billion budget gap in 2021 would hike sales and property taxes by $76.4 million, eliminate 1,921 city jobs and dip into the city’s rainy-day fund.
How to educate students during a pandemic is far from the only issue elected officials — and Illinois residents — have to grapple with. And it seems unlikely the federal government will agree to another stimulus package before the election.
The economic collapse caused by the coronavirus pandemic presented an “extraordinarily challenging” set of circumstances to the county’s finance team, Cook County Board President Toni Preckwinkle said a day before unveiling her $6.9 billion spending plan.
Billionaire Pritzker cousins are hurling cash at opposing sides of the “fair tax” amendment. Our politics team tackles that story and more — including the battle over the Supreme Court — in this week’s roundtable.
In a typical year, approximately 3% of property owners do not pay their taxes, according to Chicago officials. But in 2021, a projected 10% of property owners won’t pay their tax bills, which would cost the city $65.2 million.
Perhaps the most hotly contested race on Illinois ballots this year isn’t between two candidates. It’s a fight over income tax rates. We hear from both sides of the hotly contested measure.
Health care, the environment and the economy were among the issues that got top billing Wednesday when the running mates of President Donald Trump and former Vice President Joe Biden faced off at their sole debate.
In November, Illinois voters will be making a choice about how the state taxes income. But a last-minute lawsuit claims the ballot itself is flawed and is raising questions about how it may impact retirees.
Efforts to transform a Northwest Side tax program created in the 1980s amid the racist panic that greeted the election of Chicago’s first Black mayor are stalled — nearly two years after new leadership promised a fresh start.
While President Donald Trump continues to battle in court to keep his financial records from becoming public, the New York Times got troves of Trump tax returns from unnamed sources. Tax experts share their insights.
Trump, who has fiercely guarded his tax filings and is the only president in modern times not to make them public, paid no federal income taxes in 10 of the past 15 years.
Several aldermen on Friday urged Chicago’s chief financial officer to dip into the city’s $900 million savings account to wipe out the massive budget shortfall caused by the coronavirus pandemic.
Chicago’s chief financial officer warned aldermen Monday that taxing big firms and financial transactions would not help dig the city out of a massive budget hole caused by the coronavirus pandemic.