Tag Archives: taxes
Todd Maisch, the executive vice-president of the Illinois Chamber of Commerce writes that the Illinois Department of Revenue is trying to bypass the state legislature (similar to Obama’s – the Chicago way - bypassing Congress) to enact a delivery tax as a service charge to be paid anytime a delivery is made.
Legislators in Illinois, and a lot of other states, often debate the merits of a new tax on services. Differences of opinion on the merits of a service tax can be stark, but there is consensus on one thing: the legislature is the body with Constitutional authority to
James McNamee, President of the Illinois Public Pension Fund Association, wrote in response to Scott Reeder’s column, Don’t worry about pension lawsuits; worry about savings, that “An unconstitutional reform is no reform at all. It might feel good to all those who have been advocating that public employees are the problem. Not the fact that not paying what you were supposed into the retirement system.”
It’s not that public employees are the problem; it’s that the legislature over the years has voted for pensions that are unsustainable, regardless of the funding and were doomed to bankrupt the state without …
In January of this year, Illinois House Speaker Michael Madigan appeared to endorse the idea to force downstate school districts to pay for the state’s portion of pension contributions.
Senate President John Cullerton floated that very proposal last year, and Gov. Pat Quinn added his support not long ago. Madigan said that since Chicago pays its teacher’s pensions, the downstate school districts should also pay for their school pensions.
Shifting the state’s portion to local districts will substantially raise local property taxes, but the state is out of money and this is simply another attempt to transfer state bills to someone else.
Legislation crafted by Cook County Assessor Joseph Berrios will increase the amount of savings for the homeowners in Cook County and those who receive Senior Exemptions throughout the state.
Senate Bill 1894 passed both houses of the General Assembly last week and the legislation is expected to be signed shortly by Governor Quinn.
The homestead exemption for Cook County senior citizens would rise from $4,000 annually to $5,000, Berrios told the (Chicago Sun Times). Under the legislation, senior citizens in other parts of the state would see the same rise in their exemption, but that change won’t kick in