Illinois Eyes 30 Cent Gas Tax Hike, Chicago Eyes Property Tax Hike

The Illinois legislature is in recess right now. Other than disbanding the body, that's the best place for them. When they return, they are going after your pocketbook in the form a gas tax hike. Not to be outdone, Chicago Mayor Rahm Emanuel is pondering property tax hikes.

In July, the State legislature overrode Governor Rauner's veto and passed the largest tax hike in history. The hike raised the individual rate to 4.95 percent from 3.75 percent and the corporate rate to 7 percent from 5.25 percent.

With those hikes, households making about $100,000 will pay an additional $1,200 in taxes each year.

But that was not enough. It never will be.

Today, the Illinois Policy Institute CEO John Tillman emailed, "The Illinois General Assembly will be back in session next week. And guess what? They’re already talking about raising your taxes again. This time, they’re discussing increasing gas taxes. Lawmakers haven’t released specific numbers yet, but talks have ranged anywhere from an additional $0.05 to $0.30 a gallon."

Tax Hikes in Chicago

Chicago taxpayers face yet another property tax increase for police and fire pensions in 2020 — and another hike the following year in the tax tacked onto water and sewer bills to save the Municipal Employees pension fund, aldermen learned on the first day of City Council budget hearings.By the city’s own estimate, police and fire pension costs will rise by $297.3 million, or 36 percent, in 2020. The Municipal and Laborers plan costs will grow by $330.4 million, or 50 percent, in 2022.“We’ve done the biggest [property tax] increases,” Chicago Chief Financial Officer Carole Brown said Monday. “But there will be an increase in 2020 for police and fire. The increase for Muni and Laborers will happen a couple years later.“When this Council passed the water and sewer tax last year, there were assumed increases in the tax from the first year to correspond to increases in the ramp. We would anticipate that if those were the revenue sources assigned on a going-forward basis after we got to actuarial funding, there would need to be increases in those revenues.”

Big Round of Thanks

Neighboring governors are offering their thanks to Illinois.

In a fundraiser for Rauner, three neighboring GOP governors, Scott Walker of Wisconsin, Eric Greitens of Missouri, and Eric Holcomb of Indiana each delivered a sarcastic “thank you” to Illinois House Speaker Mike Madigan for “raising Illinois taxes” and “helping create new jobs” in their states.

  • "For raising Illinois' taxes, our economy's on fire," Scott Walker stated.
  • Missouri Governor Eric Greitens chided Madigan, "We’re growing good jobs."
  • Indiana Gov. Eric Holcomb offered, "We’re growing union jobs faster than Illinois. So, we owe you."
  • Holcomb added, "Hoosiers love you, Mike Madigan."

Mike "Mish" Shedlock

Comments
No. 1-15
Ambrose_Bierce
Ambrose_Bierce

Raising taxes is the only way out, at least it provides the voters with the recourse to judge their politicians. Currently the system is US revolution bizarro, "Representation without Taxation," although you can make the case for sales tax and user fees on your phone bill. Trump doesn't get it, but his tax cut is dead anyway. They don't even go through the charade of capping deficit spending any longer, today's spending is tomorrows debt ceiling showdown, money we have already spent. That is why Taylor might be the right guy to promote fiscal responsibility at the Fed.

Sequoia
Sequoia

Honestly I would never live in chicaghell. My wife loves that city, but I have only been to Ohare for a short lay over. I would not even buy a coke there, I will not support their agenda with 1 penny of my money. I actually check where something I buy online comes from. I will not do business with Cali, NY, Ill noise, Taxatusshits, Connetitax, Ore gone. Washington etc. Unless the item is not available else where.

2banana
2banana

2banana's Rule

Long term democrat rule + public unions + free sh*t army = misery, ruin and bankruptcy

Liberaldisdain
Liberaldisdain

I don't understand why anyone in their right mind, who has the ability to get out and is not suckling on the tit of government with checks, etc, stays in that hell hole state. Of course, I don't understand that of CA, NY, NJ on and on.

Sequoia
Sequoia

Bye Felicia

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