Sports betting stocks slide after Illinois lawmakers approve tax hike – CNBC

Wall Street is left wondering if other states will follow Illinois’ lead and try and plug their budget deficits by either adopting or increasing online sports gambling taxes. Both chambers of Illinois’ state legislature passed a budget that includes a tax of 25 cents per wager on the first 20 million online sports bets made each fiscal year, rising to 50 cents per bet after.

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ComEd summer price hike begins – ABC7 (Chicago)

There will be about a 10-15 percent increase in your electric bill, and it will stay that way for the next year. ComEd says because of factors like extreme weather and spikes from high energy users – like data centers – demand is outpacing supply and costs are getting more expensive.

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Bears blocked from stadium help again as legislative clock runs out – Chicago Sun-Times

Three bills surfaced in the General Assembly that could’ve thrown the team a block in their rush to the former Arlington International Racecourse, but none made any headway by the time lawmakers gaveled out early Sunday. Nor were funds set aside for any stadium projects in the $55.2 billion budget bill headed to Gov. JB Pritzker’s desk — no surprise, given lawmakers’ ice-cold reception to the prospect of sinking taxpayer dollars into a dome since the $6 billion franchise bought the Arlington site in 2021.

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First medical school to open in Chicago in nearly 100 years will strive to curb physician shortage – Chicago Sun-Times

The medical school is being constructed in the former Tyson Foods building in the West Loop, and plans to open the facility in late 2025. The 247,000-square-foot space has eight floors of classrooms, laboratories and collaborative study spaces. The Chicago School is spending about $48 million in construction costs, and the expected economic impact over 10 years is projected to be $1 billion, with $4.8 million in taxes, according to Nealon.

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Illinois Again Hikes Sports Betting Taxes, DraftKings, FanDuel to Bear Brunt – Casino.org

The proposal, floated by the governor’s office, adds a levy of 25 cents per wager on an operator’s first 20 million booked bets with that rate doubling to 50 cents per bet for each wager placed after that initial 20 million. Over the trailing 12-month period spanning April 24, 2024, to March 25, 2025, FanDuel and DraftKings booked 164 million and 146 million bets, respectively in Illinois.

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What’s next after transit rescue dies in Illinois House, and what caused the meltdown? Lawmakers explain – Daily Herald*

The “pizza tax,” Republican Sen. Seth Lewis of Bartlett said, was a heavy lift for everyone, including downstate Democrats, even though the bill proposed dispensing $220 million to counties outside the metro region. “The economics did not make sense,” he said. With 102 counties in Illinois “six counties were getting the bulk and 96 had to split up $220 million.”

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Paul Vallas: Understanding Chicago’s Falling Crimes Rates – Chicago Contrarian

“What must be done to continue to permanently reduce violent crime? To begin, it is important for Chicago residents to reject the mayor’s claims that his largely non-existent programs are reducing crime. Furthermore, it is important for residents to keep in mind that despite reductions to crime as of May 2025, Chicago still remains the nation’s most violent big city.”

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Forrest Claypool: Can bond vigilantes save Chicago? – Chicago Tribune*

“What if Chicago government tried to issue more debt to pay for unaffordable budgets, but no one bought the city’s bonds? Far-fetched as it sounds, it’s not inconceivable. … More than 43 percent of Chicago’s budget is consumed by debt service and pension payments, by far the highest in the nation. (The median nationally is 12 percent.) And pension debt is accelerating, rising $24 billion in the last decade even as taxpayers poured an extraordinary $20 billion into the city’s five funds.”

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State leaders, lawmakers react to $55.2B state budget that passed just before midnight deadline – WGNTV (Chicago)

Said state Sen. Chris Balkema, “Once again, Illinois Democrats are hitting hardworking families with new taxes to cover up their own failures. … This isn’t about fixing roads or improving transit access for all Illinoisans. It’s about forcing people in communities like ours and across Illinois to pay for a transit system many don’t use. While political leaders reward mismanagement in Chicago, hardworking families across the state are left paying the bill. It’s unfair and it has to stop.”

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Editorial: When school boards ride in limousines and students lack the basics – Chicago Tribune/Yahoo

“My fifth grader cannot show me how to do exponents. For the last three months, we’ve been going back and forth with time tables and multiplication. She can’t add three digit numbers. She don’t know division,” Country Club Hills parent Latisha Hearon said. “My third grader, I’m literally in the classroom asking the teacher what is going on with spelling words. I haven’t seen the spelling list all year.”

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