Even if tax breaks are allowed to lapse at year’s end, the federal budget deficit will still climb to $2.7 trillion in a decade, according to the CBO’s latest outlook, released Friday.

The IRS is distributing about $2.4 billion to taxpayers who didn’t receive their COVID stimulus payments.

The former president and now president-elect often skipped over details but through more than a year of policy pronouncements and written statements outlined a wide-ranging agenda. It would scale back federal government efforts on civil rights and expand presidential powers.

An estimated 60.3% of voters said “yes” to theoretically adding a 3% tax to incomes over $1 million, with the funds going to reduce property taxes. It was one of three non-binding questions on the ballot statewide, meaning it’s akin to a poll with the results triggering no change in law.

Voters will consider a non-binding referendum that seeks to impose a 3% tax on income over $1 million to fund property tax rebates for homeowners. It’s different from the contentious 2020 graduated income tax amendment that sparked an expensive campaign battle.

Demolishing the record set in each of the past three years, $1.3 billion poured into the city’s 127 TIF funds in 2022, according to a report from Cook County Clerk Karen Yarbrough.

Those in favor of the expansion believe the TIF district could help fix economic and developmental challenges, while those opposed think it may further gentrify the community and push long-standing residents out of the beloved enclave.

Mauro Glorioso, a former chair of the Illinois Property Tax Appeal Board who later became its executive director, sued the newspaper in 2021, alleging he was defamed by the Sun-Times’ coverage of the board’s handling of a property tax appeal for Trump Tower in downtown Chicago. 

Illinois offers a tax credit worth up to $750 for “qualified education expenses” at both public and private schools, including book rental, lab fees and tuition.

Both candidates unveiled their plans in Nevada, a state with one of the highest concentrations of tipped service workers in the country. 

The Forest Preserve District of DuPage County is asking voters to approve a 0.035% increase in property taxes when they head to the polls on Nov. 5.

In 15 towns, of which all but two are home to a majority of Black residents, the increase to property tax bills was 30%. But some local leaders are pledging not to raise municipal taxes in order to ease the impact on community members.

“Many homeowners are going to be shocked and angry when they get their bills,” Cook County Treasurer Maria Pappas said.

Property tax bills for Cook County residents are available online at cookcountytreasurer.com and should hit mailboxes this week.

DraftKings, FanDuel and other betting apps are facing a bigger tax hit in Illinois following changes to tax policy this year. New Jersey, Massachusetts and other states have also tried to raise taxes on the industry or plan to.

For low- and middle-class families feeling the pressures from the rising costs of living, the passing of a state-level child tax credit is a “big win,” said Ameya Pawar, a senior advisor at Economic Security Project and former alderperson of Chicago's 47th Ward.