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Illinois Budget

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Illinois budget moves forward while Bears stadium deal stalls
politics1 month ago

Illinois budget moves forward while Bears stadium deal stalls

Illinois lawmakers passed a $55.9 billion budget but did not vote on a Bears stadium bill before adjourning. The Senate approved a modified plan to create a publicly owned stadium authority in Cook County to finance and lease a new Bears stadium, with the Bears financing construction, property-tax exemptions for the stadium, long-term bonds up to 40 years, and a STAR Bond District to spur development. The measure faces House inaction and opposition, while Indiana is courting the team with up to $1 billion in incentives; a special session remains uncertain.

via WTHR|
#arlington-heights#bears-stadium#hammond
Illinois budget leans on gas-tax windfall, boosts lawmakers’ pay
politics1 month ago

Illinois budget leans on gas-tax windfall, boosts lawmakers’ pay

Illinois lawmakers are finalizing a nearly $56 billion budget backed by a windfall from higher gas prices, diverting about $150 million of gas-tax revenue from mass transit to operating expenses while approving a 3.2% cost-of-living increase for lawmakers to $101,450 and similar raises for the governor and agency heads; the plan also relies on new revenue ideas (digital advertising tax, fantasy-sports tax) and includes a one-time $400 SNAP payment for residents who lose benefits under federal rules, with education funding maintained and no layoffs.

via Chicago Tribune|
#gas-tax#illinois-budget#lawmakers-pay
Illinois moves toward $55B budget as Bears stadium talks stall and tax tweaks loom
politics1 month ago

Illinois moves toward $55B budget as Bears stadium talks stall and tax tweaks loom

Illinois lawmakers unveiled a $55 billion budget funded by tax increases and revenue diversions as the session nears its year-end deadline, while Bears stadium talks stall amid Chicago opposition to Arlington Heights tax breaks and a push to keep the team in the city; negotiators are considering diverting higher-than-expected gas-tax revenue to transit and operating costs, pausing the July gas-tax increase, and pursuing additional revenue ideas (digital advertising tax, per-user tax, corporate-loss deduction cap) along with housing and data-center measures, with a 3.2% pay raise for lawmakers included in the draft budget.

via Chicago Tribune|
#bears-stadium#gas-tax#illinois-budget
Johnson pushes Springfield for bigger LGDF share and Bears retention plan
politics2 months ago

Johnson pushes Springfield for bigger LGDF share and Bears retention plan

Chicago Mayor Brandon Johnson joined a coalition of Illinois mayors in Springfield to press lawmakers to raise the Local Government Distributive Fund (LGDF) share of state income tax revenue, arguing a higher cut for locals is needed to fund services and transit. Pritzker’s budget would keep LGDF funding flat or reduce its share, which Johnson says could worsen city budgets; he notes that a 1% increase in LGDF could bring roughly $80 million to Chicago. Johnson also called for a Bears-stadium plan that would keep the team in Chicago at a publicly owned venue, countering Arlington Heights relocation talk, while Senate action on Bears legislation remains uncertain.

via Block Club Chicago|
#chicago-bears#illinois-budget#lgdf
Illinois unveils $55.2B budget with healthcare cuts and new taxes
politics1 year ago

Illinois unveils $55.2B budget with healthcare cuts and new taxes

Illinois lawmakers unveiled a $55.2 billion budget plan that addresses a $1 billion shortfall through increased gambling and tobacco taxes, while making controversial cuts to immigrant healthcare programs affecting nearly 33,000 people, amidst ongoing political negotiations and opposition from some legislators and groups.

via Chicago Sun-Times|
#illinois-budget#immigrant-healthcare-cuts#legislative-negotiations